Policy & Regulations
Internal Revenue Code Section 45D
(As of Febraury 5, 2010)
Proposed Regulations: Targeted Populations Under Section 45D(e)(2)
(September 24, 2008)
NMTC Q&A Document: Low-Income Communities and Targeted Populations (October 3, 2008)
Amendments to New Markets Tax Credit Regulations
(August 8, 2008)
Advance Notice of Proposed Rulemaking Regarding the Designation of Low-Income Communities
(May 24, 2005)
Correction to Final New Markets Tax Credit Regulations
(January 28, 2005)
Treasury Decision 9171: Final New Markets Tax Credit Regulations
(December 22, 2004)
Comment Request: REG–119436–01 (TD 9171), New Markets Tax Credits (April 10, 2008)
Notice of Final New Markets Tax Credit Regulations
(December 28, 2004)
Treasury Decision 9116: New Markets Tax Credit Amendments to Temporary Regulations
(March 11, 2004)
IRS Notice of Proposed Rulemaking and Public Hearing on New Markets Tax Credit Amendments
(March 11, 2004)
Form 8874: New Markets Credit (January 2007)
Notice and Request for Comments (June 11, 2009)
Form 8874-A: Notice of Qualified Equity Investment for New Markets Credit (March 2007)
Form 8874-B: Notice of Recapture Event for New Markets Credit (March 2007)
Notice and Request for Comments (July 1, 2010)
CDFI Fund Notices
Submission for OMB Review; Comment Request: Evaluation of the New Markets Tax Credit (NMTC) Program (May 19, 2010)
Proposed Collection; Comment Request: Community Development Financial Institutions Program Awardee/Allocatee Annual Report (May 7, 2010)
Proposed Collection; Comment Request: New Markets Tax Credit Allocation Tracking System (March 1, 2010)
Submission for OMB Review; Comment Request: Quarterly Institutional Level Report (February 24, 2010)
Proposed Collection; Comment Request: Quarterly New Markets Report (QNMR) for New Markets Tax Credit (NMTC) allocatees under the American Recovery and Reinvestment Act of 2009 (February 19, 2010)
Proposed Collection; Comment Request: Evaluation of the New Markets Tax Credit Program (February 4, 2010)
Notice and Request for Comments: Certification of Material Events Form (September 21, 2009)
CDFI Fund Notice and Request for Comments: (NMTC) ProgramAllocation Application (August 3, 2009)
New Markets Tax Credit Compliance and Monitoring Frequently Asked Questions (May 2009)
Notice Inviting Comments Concerning Non-Metro QEI Allocations (May 22, 2007)
NMTC Allocation Application Q&A (December 1, 2006)
New Markets Tax Credit Compliance and Monitoring Frequently Asked Questions (November 2006)
Notice Inviting Comments Concerning the New Markets Tax Credit (NMTC) Program Allocation Tracking System (November 6, 2006)
Notice Inviting Comments Concerning NMTC Program Allocation Agreement--Disclosure, Audited Financial Statements (November 6, 2006)
Notice Inviting Comments Concerning the Community Development Financial Institutions Fund's Conflict of Interest Package for Non-Federal Readers (November 6, 2006)
Advance Notice of 2007 NMTC QEI Issuance Requirements (October 30, 2006)
Notice Inviting Comments on the Release of Transaction Level Report Data and Allocation Tracking System Data (August 15, 2006)
> Draft Privacy Protocol for CDE TLR and ATS Data
> Draft FY 2004 CDE TLR and ATS Data Release Sample
Notice Inviting Comments Concerning the Community Development Entity (CDE) Certification Application (May 24, 2006)
Notice Inviting Comments Concerning the Community Development Entity (CDE) Certification Application (March 1, 2006)
Notice Inviting Comments Concerning the New Markets Tax Credit (NMTC) Program—Allocation Application (December 28, 2005)
Policies for Prioritizing Amendment Requests (November 15, 2005)
Allocation Agreement Q&A (January 2005)
NMTC Allocation Application Q&A (September 24, 2004)
All Applicants for Federal Assistance Required to Obtain Dun & Bradstreet (D&B) Data Universal Numbering System (DUNS) Number
(March 29, 2004)
CDFI Fund Submission for OMB Review: Institution-Level Report; Transaction-Level Report; IRS Compliance Questions
(March 12, 2004)
Procedure for requesting legal interpretations of statutes, regulations, guidances, agreements: CDFI Program, BEA Program, NMTC Program
(March 10, 2004)
Allocation Agreement Q&A (January 27, 2004)
New Markets Tax Credit Program Allocation Tracking System (ATS)
(January 2, 2004)
XML Schema Definition (XSD) document for the Community Investment Intelligence System (CIIS)
(December 17, 2003)
CDFI Fund Advisory Board Meeting Announcement
(October 2, 2003)
CDFI Fund Notice Extending Sundry Deadlines for the 2003 NMTC Allocation Application Round
(September 10, 2003)
NMTC Allocation Application Q&A
(September 8, 2003)
CDFI Fund Notice and Request for Comments Regarding NMTC Program Institution-Level Report and Transaction-Level Report
(July 16, 2003)
CDFI Fund Notice of Video Teleconference for 2003 NMTC Round
(July 8, 2003)
CDFI Fund Notice and Request for Comments Regarding Notification of Receipt of a Qualified Equity Investment
(March 30, 2003)
Application and Allocation Q&A (August 5, 2002)
CDFI Fund New Markets Tax Credit Brochure
(December, 2000)
Press Release: Guidance on NMTC Program
(April 20, 2001)
IRS Audit Guide
Internal Revenue Service Audit Guide: New Markets Tax Credit (May 26, 2010)
IRS Notices
Notice 2008-47: Public Comment Invited on Recommendations for 2008-2009 Guidance Priority List
Notice 2008-25: GO Zone Bonus Depreciation Recapture
Notice 2007-36: GO Zone Bonus Depreciation Additional Guidance
Notice 2007-18: Definition of Party and Allocation of Net Income or Proceeds for Purposes of Section 4965 (February 7, 2007)
Revenue Procedure 2007-20: Exceptions to Reportable Transaction Disclosure Rules Under Section 1.6011-4(b)(4) (January 26, 2007)
Transition Relief for Certain Partnerships and Other Pass-Thru Entities Under § 470
(December 14, 2006)
IRS Notice 2006-60: Designation of Certain Targeted Populations
(June 30, 2006)
IRS Notice 2004-26: Public Comment Invited on Recommendations for 2004-2005 Guidance Priority List
(March 24, 2004)
IRS Notice 2003-68 - Purchase of Loans by a CDE
(September 23, 2003)
IRS Notice 2003-64 - Use of Intermediaries
(September 8, 2003)
IRS Notice 2003-56: Qualified Equity Investments
(July 24, 2003)
IRS Notice 2003-9: Extension of 'Look Back' Period
(January 9, 2003)
IRS Notice 2002-64: NMTC Not Limited By Other Federal Tax Benefits
(September 20, 2002)
IRS Notice 2001-75: NMTC Equity Investment Eligibility
(December 17, 2001)
IRS Notice: Invitation for Comments on NMTC Guidance
(May 1, 2001)
Revenue Rulings
Rev. Rul. 2010-17: Amount of the Qualified Equity Investment Made by a Limited Liability Company
(June 8, 2010)
Rev. Rul. 2010-16: Passive Activity Losses And Credits Limited
(June 8, 2010)
Revenue Ruling 2003-20: Partnership Purchases of a Qualified Equity Investment
(January 23, 2003)
Chief Counsel Advice
CCA 200944050: Active Conduct of a Qualified Business under§ 45D(d)(2)(A)(i) and § 1.45D-1(d)(4)(i)
(October 30, 2009)
Private Letter Rulings
PLR 201004021: 6 month cure period under § 1.45D-1(e)(6)
(January 29, 2010)
PLR 201004008: 6 month cure period under § 1.45D-1(e)(6)
(January 29, 2010)
PLR 200947005: Multiple Buildlings May be Treated as a Single Building under §168(e)(2)
(November 20, 2009)
PLR 200947004: Multiple Buildlings May be Treated as a Single Building under §168(e)(2)
(November 20, 2009)
PLR 200926022: 50 Percent Exception to the Definition of Tax-Exempt Use Property
(June 26, 2009)
PLR 200910024: Targeted Populations under Sec. 45D(e)(2) and Section 3.03(2) of Notice 2006-60
(March 6, 2009)
PLR 200841003: Historic Building and Addition are One Property for Purposes of Sec. 168(h)(1)(B)(iii) 35% Threshold Test
(October 10, 2008)
PLR 200644044 - IRC Section 501(c)(3) - Entity Formed to Provide Services to NMTC Subsidiary of CDFI Doesn't Qualify for Tax Exemption
(November 3, 2006)
PLR 200331008 - IRC Section 4944 - Taxes on Investments Which Jeopardize Charitable Purpose
(August 4, 2003)
PLR 200331007 - IRC Section 4944 - Taxes on Investments Which Jeopardize Charitable Purpose
(August 4, 2003)
PLR 200331006 - IRC Section 4944 - Taxes on Investments Which Jeopardize Charitable Purpose
(August 4, 2003)
PLR 200331005 - IRC Section 4944 - Taxes on Investments Which Jeopardize Charitable Purpose
(August 4, 2003)
PLR 200211052: Income from Redeveloping Blighted Area not UBTI
(March 18, 2002)
PLR 8931001: Investment Tax Credit - Partnership Allocations
PLR 200006016: Definition of DC Zone Business
(February 11, 2000)
OCC Guidance
Proposed Revisions to the Interagency Questions and Answers Regarding Community Reinvestment
Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve System; and Federal Deposit Insurance Corporation (FDIC)
(July 11, 2007)
OCC Interpretive Letter # 996: National Bank is Authorized to Acquire Non-controlling Interest in an LLC that Generates NMTCs
(July 6, 2004)
Compliance Corner: Expanding Your CRA Reach with CD Banks and CDFIs
(Summer 2004)
Legal Authority for National Bank Investments in Subsidiary Community Development Entities and NMTCs
(Summer 2004)
OCC Interpretive Letter # 984: Treatment of NMTC investments under CRA
(December 17, 2003)
GAO Reports
New Markets Tax Credit: Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entitities
Government Accountability Office (GAO)
(
June 1, 2009)
Letter from CDFI Fund Director Gambrell to GAO About Minority Entities' Participation in NMTC Program (April 23, 2009)
New Markets Tax Credit Appears to Increase Investment by Investors in Low-Income Communities, but Opportunities Exist to Better Monitor Compliance
Goverment Accountability Office (GAO)
(January 31, 2007)
Community Development: Federal Revitalization Programs Are Being Implemented, but Data on the Use of Tax Benefits Are Limited
General Accounting Office (GAO)
(March 5, 2004)
"New Markets Tax Credit Program: Progress Made in Implementation, but Further Actions Needed to Monitor Compliance"
General Accounting Office (GAO) Report to Congressional Committees
(January 2004)
U.S. Department of Housing and Urban Development Final Rule: Prohibition of the Escrowing of Tax Credit Equity (August 23, 2010)