CDFI Fund: Update to the CY 2024-2025 NMTC Program Application FAQs Released
The Community Development Financial Institutions Fund (CDFI Fund) has posted on its website an updated calendar year (CY) 2024-2025 New Markets Tax Credit Program (NMTC Program) Allocation Application Frequently Asked Questions (FAQs) document. The updates to this document are provided in response to questions submitted in response to the CDFI Fund’s Paperwork Reduction Act request for comments…
CDFI Fund: CY 2024-2025 Round of New Markets Tax Credit Program Opens
$10 Billion in Allocation Authority Available The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the Notice of Allocation Availability (NOAA) for the next round of the New Markets Tax Credit Program (NMTC Program). A total of $10 billion in Allocation Authority is available through this combined round that…
CDFI Fund: $5 Billion in New Markets Tax Credits Announced
Awards will Spur Economic and Community Development in Low-Income Urban, Rural and Tribal Communities Nationwide The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today announced $5 billion in New Markets Tax Credits that will spur investment and economic growth in low-income urban and rural communities nationwide. A total of 104…
CDFI Fund: Summary Report and Public Data for NMTC Program for FYs 2003-2022 Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released a summary report and data collected on all New Markets Tax Credit (NMTC) investments across the nation from fiscal year (FY) 2003 to FY 2022. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded NMTC allocations…
CDFI Fund: Public Comments Sought on NMTC Program Allocation Application
The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Pub. L. No. 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the…
CDFI Fund: Application Demand for CY 2023 Round of the NMTC Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received 196 applications for the calendar year (CY) 2023 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program advances economic development in economically distressed communities by making tax credit allocations available to Community Development…
CDFI Fund: Update to NMTC Program Compliance FAQs Released
The Community Development Financial Institutions Fund (CDFI Fund) has provided an updated Compliance Frequently Asked Questions (FAQs) document for the New Markets Tax Credit Program (NMTC Program) on its website. This document supersedes the December 2022 publication of the FAQs document by adding, revising, or updating select questions from the earlier edition. Updates include: The updated FAQ…
CDFI Fund: CY 2023 Round of New Markets Tax Credit Program Opens
$5 Billion in Allocation Authority Available The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2023 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is posting the NOAA on its website in anticipation…
CDFI Fund: $5 Billion in New Markets Tax Credit Awards Announced
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $5 billion in New Markets Tax Credits today that will spur investment and economic growth in low-income urban and rural communities nationwide. A total of 102 Community Development Entities (CDEs) were awarded tax credit allocations, made through the calendar year (CY)…
CDFI Fund: Updated Eligiblity Data for the New Markets Tax Credit Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today updated Eligibility Data for the New Markets Tax Credit Program (NMTC Program). The update of this information—based on more recent, Census Bureau 2016-2020 American Community Survey (ACS) 5-year estimates data—is part of a larger effort to ensure that the data used to…