CDFI Fund Releases Public Data for NMTC Program for FYs 2003-2019

CDFI Fund Releases Public Data for NMTC Program for FYs 2003-2019

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released transaction level data collected on New Markets Tax Credit (NMTC) investments across the nation through fiscal year (FY) 2019. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded NMTC allocations to submit an annual report detailing how they invested Qualified Equity Investment (QEI) proceeds in low-income communities.

 

A summary report providing an overview of NMTC investments and impacts will be published in a forthcoming public announcement.

Related Links:

About the NMTC Program

The NMTC Program enables economically distressed communities to leverage private investment capital by providing investors with a federal tax credit. All NMTC investments must meet statutory qualifications for their investors to be able to claim the tax credit. The vast majority of NMTC investments are made within statutorily defined “Low-Income Communities.” Low-Income Communities are census tracts with a poverty rate of 20% or greater, or a median family income at or below 80% of the applicable area median family income. In addition to investments located in Low-Income Communities, investments can qualify for NMTCs by using other statutory provisions designed to target certain areas or populations, including provisions for Nonmetropolitan Counties, and Low-Income Targeted Populations.

Through 16 application rounds of the NMTC Program, the CDFI Fund has made 1,254 awards, allocating a total of $61 billion in tax credit authority to CDEs through a competitive application process. This includes $3 billion in Recovery Act allocations and $1 billion of special allocation authority designated for use for the recovery and redevelopment of the Gulf Opportunity Zone.

To learn more about the NMTC Program, visit the NMTC Program webpage on the CDFI Fund’s website at www.cdfifund.gov/nmtc.

">

Stay in Touch

Sign up to receive news and important information.

Sign Up

Categories

Updates (252)

Archives