The Nebraska Department of Economic Development (DED) is now accepting applications for the Community Development Assistance Act (CDAA) opportunity.
The CDAA enables DED to distribute a 40% state tax credit to individuals and business firms that make eligible contributions to certified projects or programs.
Any county, city, village, or non-profit Community Betterment Organization that provides community assistance or community services in a community development area may apply for CDAA project or program certification through DED. Upon approval of the application, the organization can notify donors to the certified project or program that they are eligible for tax credits.
DED will not authorize more than $50,000 of tax credits for any single project or program during any single fiscal year. Once an applicant enters into agreement with DED, a 12-month period begins during which donations to the certified project or program may be eligible for tax credits. Subject to legislative changes, DED can allocate a total of $350,000 in state tax credits each fiscal year.
Applications may be submitted electronically through DED’s grant management system (EUNA Grants) any time after the application live date. The application link, program requirements, and more can be found at opportunity.nebraska.gov/programs/community/cdaa.
For additional information, contact CDAA coordinator AJ Weigman at aj.weigman@nebraska.gov or (402) 471-3749.
