2018 Alaska Statutes
Title 44. State Government
Chapter 88. Alaska Industrial Development and Export Authority
Article 9. New Markets Tax Credit Assistance Guarantee and Loan Program.
Sec. 44.88.799. Definitions.
In AS 44.88.700 — 44.88.799,
(1) “federal new markets tax credit program” means the program administered by the Community Development Financial Institutions Fund that arises out of 26 U.S.C. 45D (Internal Revenue Code) and related regulations;
(2) “new markets tax credit” means tax credits that arise out of 26 U.S.C. 45D (Internal Revenue Code) and related regulations;
(3) “new markets tax credit assistance leveraged loan” and “leveraged loan” mean a loan made into an investment entity, the proceeds of which, together with other funds, including tax credit equity, are invested as a qualified equity investment in a qualified community development entity that will use the funds to finance a project for which the entity allocates new markets tax credits;
(4) “qualified community development entity” has the meaning given in 26 U.S.C. 45D(c) (Internal Revenue Code) and related regulations;
(5) “qualified equity investment” means an equity investment in a qualified community development entity that satisfies the conditions described in 26 U.S.C. 45D(b) (Internal Revenue Code) and related regulations.
