New Markets Tax Credit (NMTC)

U.S. Representatives Marcia L. Fudge, Marcy Kaptur, Dennis Kucinich, Tim Ryan, Betty Sutton, and Richard Neal recently highlighted the benefits of the New Markets Tax Credit (NMTC) program and urged Congress to extend the program.

The Internal Revenue Service has finalized regulations relating to how an entity can qualify as a qualified active low-income community business (QALICB) under the New Markets Tax Credit (NMTC) program.

The Community Development Financial Institution (CDFI) Fund has released comprehensive Community Investment Impact System (CIIS) data for fiscal years 2004 through 2010. This report contains Institution Level Report (ILR) and the Transaction Level Report (TLR) data.

The Community Development Financial Institution (CDFI) Fund has issued a call for nominations for the 2012 Community Reinvestment Awards. The Community Reinvestment Awards annually recognizes the work of financial institutions that are advancing solutions to strengthen small businesses.

The Community Development Financial Institutions (CDFI) Fund this week released an updated data summary on projects financed by the New Markets Tax Credit (NMTC) program through fiscal year 2010.

Community Development Financial Institutions Fund (CDFI Fund) has updated its Frequently Asked Questions document on New Markets Tax Credit Compliance and Monitoring.

NH&RA is pleased to present the PowerPoint presentations from the recent 2011 Fall Developers Forum (November 14-15) in Boston, Mass.

The Community Development Financial Institution Fund (CDFI Fund) has issued a call for comments about the New Markets Tax Credit (NMTC) Program. This request is due to the CDFI Fund’s ongoing mission to improve the effectiveness of the program while simultaneously reducing costs and the burden the program places on participants.

The Community Development Financial Institutions (CDFI) Fund has made significant updates to its New Markets Tax Credit (NMTC) Compliance and Monitoring Frequently Asked Questions. The Fund has added and/or significantly modified nearly 26 questions.

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) recently released data collected on projects financed through the New Markets Tax Credit (NMTC) program. Treasury collects this data, along with audited financial statements, annually from Community Development Entities (CDEs) that have been awarded NMTC allocations within six months of the end of the CDEs fiscal year.

Recently, at a State job summit convened in St. Paul, Minnesota Governor Mark Dayton announced his intentions to create a state New Markets Tax Credit Program (NMTC).

The Community Development Financial Institution Fund (CDFI Fund) announced Dennis Nolan as the newest Deputy Director of the CDFI Fund beginning Monday October 24, 2011.