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CDFI Fund Opens 2015 NMTC Round

Wednesday, October 21, 2015 - 2:30PM

The Community Development Financial Institutions (CDFI) Fund today released the notice of allocation availability (NOAA), opening the next round of competition under the New Markets Tax Credit (NMTC) program. The NOAA makes $5 billion in tax credit authority available under the calendar year (CY) 2015 round, pending congressional authorization. Under the 2015 NOAA, applications are due Dec. 16. Allocation applicants that are not yet certified as community development entities (CDEs) must submit an application for certification as a CDE by Nov. 6 to be eligible for an NMTC allocation. Application information has also been posted online at www.newmarketscredits.com.  

The CDFI Fund announced it will conduct two one-hour conference calls to answer applicant questions Oct. 27 and 29.

Parties seeking NMTC allocation are also reminded that qualified active low-income community businesses (QALICBs) may fill out this allocation request form to have their allocation requests posted on an online list of allocation requests by state. The information will be available for public review online at www.newmarketscredits.com.

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