On September 1, 2021, at a time when America’s underserved and distressed communities need financial investment the most, the U.S. Department of Treasury through its Community Development Financial Institution Fund announced...more
Yesterday, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 100 Community Development Entities (CDEs) $5 billion in New Markets Tax Credit (NMTC) allocation...more
On May 23, 2019, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 73 Community Development Entities (CDEs) $3.5 billion in New Markets Tax Credit (NMTC) allocation...more
• Part 1 of this series of Holland & Knight alerts described a new tax incentive contained in the Tax Cuts and Jobs Act for investments in low-income communities designated as "Opportunity Zones." Part 1 also explained the...more
In Depth - On November 17, 2016, the US Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced the largest single round award of New Market Tax Credit (NMTC) allocations...more
Annually, following the release of the New Markets Tax Credit (“NMTC”) Application, the Community Development Financial Institutions (“CDFI”) Fund identifies ten states, plus US territories, that have not received as much...more
In a previous Housing Plus blog post on January 7, 2015, I described the various updates to the CDFI Fund’s Frequently Asked Questions document for the New Markets Tax Credit (“NMTC”) program. The most significant update may...more
On Friday January 2, the CDFI Fund released an updated Frequently Asked Questions document for New Markets Tax Credit (“NMTC”) questions relating to certification, compliance monitoring, and evaluation. The updated FAQ...more
The new markets tax credit (‘‘NMTC’’) was added to the Internal Revenue Code as §45D2 by the Community Renewal Tax Relief Act of 2000.3 Initially the program was to provide allocations of the tax credit through 2007, but has...more
On June 5, 2014, the U.S. Department of Treasury Community Development Financial Institution Fund (CDFI) announced that 87 Community Development Entities have been selected to receive $3.5 billion in New Market Tax Credit...more
Recently, the Community Development Financial Institutions Fund (CDFI) announced its allocation of $3.5 billion in 2012 new market tax credits (NMTC) to 85 community development entities (CDEs) nationwide. In the next 10 – 12...more