The Community Development Financial Institutions (CDFI) Fund today announced that 208 community development entities (CDEs) applied for new markets tax credit (NMTC) allocation authority under the calendar year (CY) 2020 round. The CY 2020 applicants are headquartered in 44 states, the District of Columbia and Puerto Rico. Applicants requested an aggregate $15.1 billion in NMTC allocation authority, more than triple the $5 billion in allocation authority available for the CY 2020 round. The CY 2020 round awards are scheduled to be announced in summer 2021.

More NMTC insights will be discussed at the Novogradac 2021 New Markets Tax Credit Virtual Conference, Jan. 21-22.