The U.S. Treasury Department and the Internal Revenue Service on Tuesday announced proposed changes to the New Markets Tax Credit program to encourage more investment in non-real estate businesses located in low-income communities. Potential changes to the tax credit include revising reinvestment requirements for entities investing in operating businesses, streamlining compliance requirements and modifying ownership rules to reduce noncompliance risk over the course of an investment. The proposed regulations ((REG-101826-11 and REG-114206-11)  are available on the Federal Register website and were published in the Federal Register on June 7.