The Novogradac website will be unavailable on Saturday, December 2, starting at 6:30 a.m. PT for maintenance. We expect this downtime to last several hours. You will be unable to log on to NovocoTraining ( during this time. Thank you for your patience as we complete this mandatory update.

CDFI Fund Publishes Notice on Changes to NMTC Transaction Level Report

Wednesday, July 26, 2023 - 10:00am

The Community Development Financial Institutions (CDFI) Fund will publish in Thursday’s Federal Register a notice and request for comment on changes to the new markets tax credit (NMTC) program transaction level report (TLR), seeking to revise data points on fees and transaction costs as well as measuring the depth of public subsidy in NMTC transactions. Additional measures seek to provide new data points to gauge community outcomes during the application process as well as assess compliance with the allocation agreement. The CDFI Fund considered similar revisions to the TLR earlier this year. Comments are due by Aug. 26.

The Novogradac Introduction to New Markets Tax Credits booklet provides an initiation into the workings of the NMTC incentive.