Town Of Westport: Neighborhood Assistance Act (NAA) Tax Credit Program Is Currently Accepting Applications For Municipal And Tax Exempt ...

Press release from the Town of Westport:

04/01/2021 10:00 AM

Director of Human Services Elaine Daignault has announced that the Town is currently accepting applications for the 2021 Neighborhood Assistance Act (NAA) Tax Credit Program sponsored by the CT Dept. of Revenue Services (DRS).  The NAA program is designed to provide funding for municipal and tax-exempt organizations by providing a corporation business tax credit for businesses that make cash contributions to these entities.

The NAA program allows businesses to claim a State tax credit for cash contributions made to qualifying community programs conducted by tax exempt or municipal agencies.  The types of community programs that qualify for the NAA tax credit program include but are not necessarily limited to:  energy conservation; employment and training; child care services; programs serving low income persons; open space acquisition; crime prevention programs and affordable housing development.  The minimum contribution on which a tax credit may be granted is $250 and the maximum contribution that any nonprofit or municipal entity can receive under this program is $150,000.  There are no Town funds involved in this program.

Each municipal agency or tax-exempt organization that wishes to participate in the NAA Program must complete the program proposal application available on the CT DRS website.  This form must be submitted to the municipality for approval by its governing body.  All locally approved programs must be submitted to the DRS no later than July 1.

For further information about the Neighborhood Assistance Act Program, please go to the DRS website at http://www.ct.gov/DRS.  (Search for 2021 Neighborhood Assistance Act program application). Agencies wishing to participate should submit applications to the attention of Elaine Daignault, Director, Westport Department of Human Services, 110 Myrtle Ave., Westport, CT 06880 by Friday, May 14, 2021.  The list of participating agencies will be submitted to the Representative Town Meeting for approval at its meeting on Tuesday, June 1, 2021.

This press release was produced by the Town of Westport. The views expressed here are the author’s own.