Public entities have new opportunities for financing public projects beginning July 1, 2012. Amendments to Section 57-105-1 of the Mississippi Code of 1972 will allow certain public entities to participate in New Markets Tax Credit financing under Section 45D of the Internal Revenue Code. To attract private investment the NMTC program permits investors to receive a credit against federal income taxes for making qualified equity investments in community development entities. Borrowers who participate in the NMTC program generate tax credits based on project investments within qualified census tracts. Such credits are then sold to institutional investors in order to generate subsidy for project costs. Borrowers under the NMTC program are required to be partnerships or corporations for tax purposes.