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CDFI Fund Releases Updated Eligibility Data from 2016-2020 ACS for NMTC Incentive

Friday, September 1, 2023 - 10:00AM

The Community Development Financial Institutions (CDFI) Fund today announced its release of updated eligibility data for the new markets tax credit (NMTC) incentive. The updated information on low-income communities (LICs) is based on 2016-2020 American Community Survey (ACS) five-year estimate data from the U.S. Census Bureau. The new data may be used as of today (Sept. 1). The CDFI Fund also published information on the transition from 2011-2015 to 2016-2020 data, based on the date the qualified low-income community investment (QLICI) closes. Similar information on island areas֪–not included in this release–is tentatively scheduled for release in December. The New Markets Tax Credit Working Group will analyze the data and transition guidance.

More information will be available in a Notes from Novogradac blog post. The update and other CDFI Fund information will be a topic at the Novogradac 2023 Fall New Markets Tax Credit Conference, Oct. 26-27 in New Orleans.

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