The Community Development Financial Institutions Fund (CDFI Fund) has provided supplemental guidance to potential calendar year (CY) 2015 New Markets Tax Credit Program (NMTC Program) applicants by updating the NMTC Compliance Monitoring Frequently Asked Questions document on its website.
The update is to provide additional guidance regarding the use of Qualified Low-Income Community Investments proceeds to pay a debt or equity provider to monetize an asset as addressed in Question 44 of the document, and to clarify the guidance's applicability to the CY 2015 NMTC Program application round.
The document may be viewed on the New Markets Tax Credit (NMTC) Program page, www.cdfifund.gov/nmtc, under How to Apply Step 5: Compliance and Reporting. Additional questions may be directed to the CDFI Fund's Help Desk at email@example.com or (202) 653-0421. Please keep in mind that the deadline for any phone calls or emails to the CDFI Fund with questions concerning the application is 5:00 p.m. EST on December 14, 2015.
For more information about the CDFI Fund and its programs, please visit www.cdfifund.gov.
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