Sen. Capito’s Bill Would Help Coal-Impacted States

U.S. Senator Shelley Moore Capito is introducing legislation to set aside $525 million in federal tax credits for investments in communities hurt by the downturn in coal. Capito’s bill would allocate 5 percent of the federal new market tax credits for 12 states with counties that had significant coal job loss between 2012 and 2015. According to Capito, the program was enacted in 2000 for projects like mixed-use redevelopments, health care facilities, manufacturing sites and direct business investments. Over the next three years, $3.5 billion in credits will be allocated annually. The 12 states are Alabama, Colorado, Kentucky, Indiana, Illinois, New Mexico, Ohio, Pennsylvania, Texas, Utah, Virginia and West Virginia.