CDFI announced the next round of the New Markets Tax Credit Program (NMTC Program) will make $10 billion in Allocation Authority available, and the round will span calendar years (CYs) 2024 and 2025. The CDFI Fund is tentatively planning to open the CY 2024-2025 NMTC Program Allocation Application round this fall.
According to CDFI, the following information may be helpful.
Application Registration
Once the Notice of Allocation Availability (NOAA) is published and the CY 2024-2025 round opens, the first step potential applicants must take is to complete and save the Application Registration section of the NMTC Allocation Application in the Awards Management Information System (AMIS) by the application registration deadline. Potential applicants that do not complete and save the application registration by the deadline will not be able to subsequently submit a CY 2024-2025 Allocation application in AMIS. Please be sure to complete this important step.
Community Development Entity (CDE) Certification
Potential applicants must be certified as a CDE as of the Federal Register publication date of the NOAA. To make sure that this requirement is met, potential applicants that are not already certified as a CDE must submit their CDE Certification application through AMIS by no later than 11:59 p.m. Eastern Time on Friday, Oct. 18, 2024. CDE certification applications are reviewed on a rolling basis and potential applicants are encouraged to apply as early as possible. Depending on the volume of CDE applications submitted, the CDFI Fund may not be able to review and complete all determinations prior to the publication of the NOAA in the Federal Register. For more information on applying for CDE Certification, please visit: www.cdfifund.gov/cde.
CY 2024-2025 NMTC Application Materials
The CDFI Fund will publish the CY 2024-2025 round application materials (Allocation Application, NOAA, Application FAQs, etc.) on the CDFI Fund’s website when the CY 2024-2025 round opens.
