§ 44-88-799

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.