New Markets Tax Credit (NMTC)

The electronic application for the 2017 round of the New Markets Tax Credit Program (NMTC Program) is available for applicants through their Awards Management Information System (AMIS) accounts. The Community Development Financial Institutions Fund (CDFI Fund) published the Notice of Allocation Availability for the 2017 round in the Federal Register on May 4, 2017.  Community […]

The CDFI Fund released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2017 round of the New Markets Tax Credit Program (NMTC Program). The NOAA makes up to $3.5 billion in tax credit allocation authority available for the CY 2017 round.

Donald Trump today has released a preliminary version of a tax plan, calling for a reduction in the corporate tax rate to 15%.

Reps. Pat Tiberi (R-OH), and Richard Neal (D-MA) introduced the legislation on Feb. 15, 2017

Treasury Secretary Nominee Steve Mnuchin was tepid towards both tax credit programs.

The New Markets Tax Credit Coalition is circulating a sign-on letter urging Congress to preserve the New Markets Tax Credit (NMTC) if tax reform moves forward. NH&RA has signed on and urges its members to do the same.

It will take some time to fully digest the results from last night’s election but I wanted to share some initial thoughts on what this may mean for our industry.   Whether you are a Republican or Democrat we must collectively figure out a way to come back from the divisive politics that characterized this election.  […]

NH&RA’s New Markets Tax Credit Council will be hosting a call in the near future to discuss these changes and looks forward to your contributions towards a comment letter. Read on for a summary of changes.

The data covers 4,541 total Qualified Active Low-Income Community Businesses and almost $38.5B in NMTC investments.

By combining the CY 2015 and CY 2016 allocation rounds, the CDFI Fund will be able to announce the allocation of New Markets Tax Credits in the year for which they are authorized, and will be able to help more communities access the benefits of the tax credits sooner.

The CDFI Fund received 238 applications for New Markets Tax Credit allocations from 43 states, the District of Columbia, Puerto Rico, and Guam. The CDEs requested more than 5 times the available authority of $3.5 billion.

House and Senate approved legislation to establish a permanent minimum 9% Low-Income Housing Tax Credit rate for new construction and substantial rehabilitation and extend the New Markets Tax Credit through 2019.