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CDFI Fund Posts Updated FAQ Document for NMTC Compliance Monitoring and Evaluation

Monday, December 5, 2022 - 3:15PM

The Community Development Financial Institutions (CDFI) Fund today posted an updated frequently asked questions (FAQ) document for compliance monitoring and evaluation concerning the new markets tax credit (NMTC) incentive. The updated document includes additional guidance on how to designate a qualified equity investment (QEI) for Treasury Directive 9600 purposes, reminds NMTC allocatees to maintain documentation for “unrelated” entity assessments required under Section 3.2(d) of the allocation agreement, emphasizes that the “substantial rehabilitation” threshold is applicable to each building on a property to meet Section 3.3(h) of the allocation agreement and more. The updated FAQ document supersedes the November 2021 FAQ document.

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