On May 23, 2019, the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund awarded $3.5 billion in New Markets Tax Credit (NMTC) allocation to 73 community development entities (CDEs) under the 2018 allocation round of the NMTC program. Two hundred fourteen CDEs applied to the CDFI Fund, requesting a total of $14.8 billion in allocation authority. The 2018 round of allocation allocatees are headquartered in 35 states, Puerto Rico, and the District of Columbia. The NMTC program is authorized through the 2019 round of allocations, leaving one more NMTC application under current legislation. This year’s announcement brings the total amount awarded through the NMTC Program to $57.5 billion.
To learn more about the New Markets Tax Credit Program, please view the program fact sheet or visit www.cdfifund.gov/nmtc.
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