CDFI FUND ANNOUNCES TIMELINE FOR NEW ELIGIBILITY CRITERIA

Wednesday, March 7, 2012 - 8:00AM

The Community Development Financial Institutions (CDFI) Fund announced the approximate timing for its plans to update program eligibility criteria based on recently released new poverty and income data from the 2006-2010 American Community Survey (ACS). The CDFI Fund says it expects to release in May new tables showing NMTC program eligibility by Census tract, but notes that this timing may be subject to change. As of March 2012, program eligibility for the New Markets Tax Credit (NMTC) program remains unchanged and linked to the 2000 Census.

The CDFI Fund says that policies governing this transition will be released along with the new eligibility tables. The New Markets Tax Credit Working Group recently submitted recommendations to the CDFI Fund regarding the transition to the new Census data.

Questions about NMTC eligible census tracts or the NMTC Working Group can be directed to Brad Elphick, CPA, at (678) 867-2333.

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