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CDFI Fund Updates NMTC Certification, Compliance and Monitoring FAQs

Friday, December 4, 2015 - 2:45PM

The Community Development Financial Institutions (CDFI) Fund today updated its Frequently Asked Questions (FAQ) document for new markets tax credit (NMTC) compliance. The updated Certification, Compliance and Monitoring FAQ document replaces previous publications of the document by updating, revising and adding questions, including definitions and clarifications. More than 20 items have been updated or added since the original publication.

Included is new information on how the CDFI Fund monitors compliance with the unrelated-entity requirement in the allocation agreement and whether a qualified active low-income community business (QALICB) can use qualified low-income community investment (QLICI) proceeds to pay a debt or equity provider to monetize an asset owned or controlled by the QALICB or an affiliate.

For more information, tune in to the Dec. 8 Tax Credit Tuesday podcast.

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