CDFI Fund Releases NOAA for CY 2023 NMTC Round, Launching Application Period

Monday, October 23, 2023 - 7:30AM

The Community Development Financial Institutions (CDFI) Fund today released a notice of allocation availability (NOAA) for the calendar year (CY) 2023 round of the new markets tax credit (NMTC). The NOAA will be published in Tuesday’s Federal Register. Up to $5 billion in allocation authority is available and the NMTC application deadline is Dec. 19. The deadline to submit applications for community development entity (CDE) certification is Nov. 8 and the deadline to register in the CDFI Fund’s Awards Management Information System (AMIS) for the NMTC application is Nov. 15. Qualified equity issuance (QEI) and qualified low-income community investment (QLICI) requirements are due March 21, 2024. The CDFI Fund announced revisions to its CY 2023 NMTC application instructions and application FAQs. The application and related documents can be found here.

The CDFI Fund will conduct a one-hour webinar to answer application questions Nov. 16, at 3 p.m. EST. Participants should submit their webinar questions through AMIS by Nov. 6.

Contact us for assistance with an application. Novogradac can read and provide comments on your application, or we can provide more in-depth assistance including participating in strategy discussions and facilitating the completion of your application.

Join community development professionals to discuss the application at the Novogradac 2023 Fall New Markets Tax Credit Conference, Thursday and Friday in New Orleans.

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