WESTPORT, Conn. - Applications for the 2014 Neighborhood Assistance Act Tax Credit Program will be accepted by the Town of Westport, announced Barbara Butler, Westport's director of human services.
Sponsored by the Connecticut Department of Revenue Services, 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; neighborhood assistance; substance abuse; 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 revenue services department's website. This form must be submitted to the municipality for approval by its governing body. All locally approved programs must be submitted to the revenue services department no later than July 1.
For further information about the Neighborhood Assistance Act Program, go to the DRS website at www.ct.gov/DRS.
Agencies wishing to participate should submit applications to the attention of Barbara H. Butler, Director, Westport Department of Human Services, 110 Myrtle Ave., Westport, CT 06880 by Wednesday, May 21.
The list of participating agencies will be submitted to the Representative Town Meeting for approval at its meeting on June 3.