The Community Development Financial Institutions (CDFI) Fund this week reported that it tentatively plans to open the calendar year 2021 (CY 2021) new markets tax credit (NMTC) allocation application round this fall and added that the round will include a 14-day period for community development entities (CDEs) to submit their certification if they are not currently certified. CDE certification applications are reviewed on a rolling basis, so applicants are advised to apply as early as possible. The CDFI Fund also said that an updated NMTC allocation application will be released along with the CY 2021 notice of allocation authority.

Novogradac’s NMTC team can assist CDEs with certification and preparing for the application process now. The Sept. 7 Tax Credit Tuesday podcast discussed NMTC allocation award insights and implications for the 2021 allocation round. The 2021 allocation application round will be topics at the Novogradac 2021 Fall New Markets Tax Credit Conference Oct. 28-29 in Austin, Texas.