Included in the recently passed American Taxpayer Relief Act of 2012 (HR 8) is an extension of the New Markets Tax Credit (NMTC) program for 2012 and 2013. The act also provides a NMTC allocation authority of $3.5 billion for each year. The Community Development Financial Institutions (CDFI) Fund has announced they are currently reviewing applications submitted for the 2012 NMTC allocation round, which were due September 12, 2012. The agency estimates that the 2012 awards will be announced in April 2013.
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