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…
CDFI Fund: Summary Report and Public Data for NMTC Program for FYs 2003-2021 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 through the fiscal year (FY) 2021 reporting period. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded NMTC allocations…
CDFI Fund: Update Provided on the Implementation of the 2016-2020 American Community Survey Datasets
In June 2022, the Community Development Financial Institutions Fund (CDFI Fund) announced a plan for releasing updated program eligibility information based upon Census Bureau data from the American Community Survey (ACS) 2016-2020 5-year data series. Eligibility requirements for the Bank Enterprise Award Program (BEA Program), Capital Magnet Fund (CMF), Community Development Financial Institutions Program (CDFI Program), Native…
CDFI Fund: Public Comments Requested on Community Development Entity Certification Application
The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the Community Development Financial Institutions Fund (CDFI Fund), U.S….
CDFI Fund: Application Demand for CY 2022 Round of NMTC Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received 197 applications for the calendar year (CY) 2022 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: Public Comments Requested on Changes to the New Markets Tax Credit Program Transaction Level Report
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is soliciting public comment on changes to the New Markets Tax Credit Program (NMTC Program) Transaction Level Report (TLR). Through this request for comment, the CDFI Fund seeks to address the remaining open Planned Corrective Actions recommended by the Government Accountability Office…
CDFI Fund: Updated Calendar Year 2022 NMTC Allocation Application FAQs Posted
The Community Development Financial Institutions Fund (CDFI Fund) has posted on its website an updated calendar year (CY) 2022 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 through the Service Request feature in the CDFI Fund’s Award Management…
CDFI Fund: Updated NMTC Program Compliance FAQs Now Available
The Community Development Financial Institutions Fund (CDFI Fund) has provided an updated Frequently Asked Questions (FAQ) document for New Markets Tax Credit Program (NMTC Program) compliance on its website. This document supersedes the November 2021 publication of the FAQ document by adding, revising, or updating select questions from the earlier edition. Updates includes: Provides additional guidance on…
CDFI Fund: Public Comments Sought on the NMTC Allocation and Qualified Equity Investment Tracking System
The Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the New Markets Tax Credit Program (NMTC Program) Allocation and Qualified Equity Investment Tracking System (AQEI). The NMTC Program provides an incentive to investors in the form of tax credits over a seven year period and stimulates the…