New London Organization Approved For Neighborhood Assistance Program

NEW LODNON, CT — The State of Connecticut Department of Revenue Services has just announced the approved proposals under the 2023 Neighborhood Assistance Act (NAA) Tax Credit Program. Six New London organizations were approved.

The NAA Tax Credit program is designed "to provide funding for municipal and tax-exempt organizations by providing a corporation business tax credit for businesses who make cash contributions to these entities," according to the state.

Businesses can receive a credit of 60 percent of their approved contribution to certain programs (or 100 percent in the case of certain energy conservation programs) approved by the CT DRS.

In New London, the Chamber of Commerce of Eastern Connecticut's Energy Conservation Rehabilitation for the Regional Innovation Center was approved for 100% of $78,120; Children in Placement, Inc.'s Guardian Ad Litem was approved at 60% of $20,000; the Garde Arts Center, Inc.'s Energy Saving Lighting, Heating and Roofing: Community Hall was approved for 100% of $150,000; New London Community Meal Center's Provide Meals to Those in Need was approved at 60% of $150,000; New London Homeless Hospitality Center, Inc.'s Multi-family Housing Energy Conservation Project was approved at 100% of $146,000; and The Center: A Drop-In Community Learning and Resource Center, Inc.'s Out of School Time Enrichment Center was approved at 60% of $15,000,