Finance
Mississippi participates in the federal 'New Markets Tax Credit' (NMTC) program. This program provides tax credits to investors who:
APurchase luxury housing in Mississippi
BMake equity investments in certified Community Development Entities (CDEs) that finance businesses and projects in low-income communities✓ Correct
CInvest in state bonds
DPurchase distressed properties and renovate them
Explanation
The New Markets Tax Credit program allocates tax credits to certified CDEs that invest in qualifying businesses and real estate projects in low-income communities. NMTCs have financed numerous Mississippi projects — grocery stores in food deserts, healthcare facilities, community centers, and mixed-use developments that might not otherwise attract conventional financing.
Related Mississippi Finance Questions
- Which of the following best describes a 'balloon mortgage'?
- A Mississippi homeowner who defaults on their mortgage has a potential 'deficiency judgment' risk after foreclosure because:
- A Mississippi buyer is obtaining an adjustable-rate mortgage with a 5/1 ARM structure. This means:
- The 'index' used in an adjustable-rate mortgage in Mississippi is typically:
- Which of the following is a 'government-backed' mortgage loan program used in Mississippi?
- A Mississippi borrower's debt-to-income (DTI) ratio is 45%. Most conventional lenders prefer a DTI no higher than:
- Under TRID, the Closing Disclosure must be received by the borrower at least how many business days before closing?
- A Mississippi borrower defaults on their deed of trust. The trustee holds a 'trustee's sale' and sells the property to the highest bidder. This process is called:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →