New Markets Tax Credit (NMTC)
Trump Releases Tax Plan, Rep. Brady Pushes Back House Schedule for Tax Reform
Donald Trump today has released a preliminary version of a tax plan, calling for a reduction in the corporate tax rate to 15%.
Bill Introduced to Make Permanent New Markets Tax Credit
Reps. Pat Tiberi (R-OH), and Richard Neal (D-MA) introduced the legislation on Feb. 15, 2017
Treasury Secretary Nominee Steve Mnuchin Non-Committal on LIHTC and NMTC
Treasury Secretary Nominee Steve Mnuchin was tepid towards both tax credit programs.
NMTC Coalition Sign-On Letter Urges Congress to Preserve the Tax Credit
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.
Early Reflections on the 2016 Election
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. […]
CDFI Fund Releases Draft 2016 Allocation Agreement Closing Document
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.
NMTC Data Released: Commercial Real Estate and Higher Distress Areas Dominate
The data covers 4,541 total Qualified Active Low-Income Community Businesses and almost $38.5B in NMTC investments.
CDFI Fund Combines CY 2015 and 2016 Rounds of New Markets Tax Credit Program
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.
CDEs Request $17.6B in NMTC Allocations in 2015 Round
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.
Tax Legislation Makes Minimum 9% LIHTC Rate Permanent, Includes NMTC Extension
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.
CDFI Fund Updates NMTC Certification, Compliance, Monitoring FAQs
The revised answers to NMTC frequently asked questions add, revise, and update earlier versions from December 2014 and October 2015.
2015 NMTC Program Electronic Application Now Available
Community Development Entities interested in applying for New Markets Tax Credit allocation authority under the 2015 round have until 5:00 pm EST, on December 16, 2015 to submit their application.