CDFI Fund Opens $5 Billion CY 2022 New Markets Tax Credit Allocation Round; Application Deadline is Jan. 26, 2023

Friday, November 18, 2022 - 10:45AM

The Community Development Financial Institutions (CDFI) Fund today released the notice of allocation availability (NOAA) for the calendar year (CY) 2022 round of the new markets tax credit, along with application materials and an updated application FAQ document. The NOAA will be published in the Federal Register Nov. 22. Up to $5 billion of allocation authority is available under the CY 2022 round. NMTC applications are due Jan. 26, 2023. The CDFI Fund also announced some NMTC program updates, including revised qualified equity investment (QEI) issuance requirements. The deadline for community development entity certification application submission is Dec. 2 and the deadline to register in the CDFI Fund Awards Management Information System for NMTC application is Dec. 15. The QEI issuance and qualified low-income community investment (QLICI) requirements are due May 4, 2023.

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