2018 Neighborhood Assistance Act Program Applications Available to Tax Exempt Organizations – Provides Tax Credits to Investors

The State of Connecticut’s Department of Revenue Services has notified municipalities that the 2018 Neighborhood Assistance Act (NAA) Tax Credit Program proposal application is available to tax exempt organizations.  The NAA Tax Credit Program provides a tax credit to businesses that make cash investments in qualifying community programs conducted by tax exempt or municipal agencies.  Qualifying community programs include energy conservation projects, neighborhood assistance, job training, education, community services, crime prevention and many others.

In order to obtain benefits under the program, a tax exempt organization must complete and submit an application to the Town Manager’s Office, 933 Hopmeadow Street, Simsbury, CT 06070, attn.: Melissa Appleby, Deputy Town Manager, on or before the close of business on Monday, May 7, 2018.  The Town of Simsbury will hold a Public Hearing on completed applications received on or before May 7, 2018 and the Board of Selectmen will subsequently vote on approval of the applications considered at Public Hearing.

Information about the NAA Tax Credit Program, including an on-line “fillable” application form (Form NAA-01, 2018 Connecticut Neighborhood Assistance Act (NAA) Program Proposal) and information about the types of community programs which qualify, is available at the Department of Revenue Services’ website: go to www.ct.gov/DRS and search for “Neighborhood Assistance Act.”