Treasury: CDFI Fund Will Announce CY 2021 Round of NMTC Allocations Friday
Allocation awards for the calendar year (CY) 2021 round of the new markets tax credit (NMTC) incentive will be announced Friday at 10:30 a.m. ET, according to a media advisory Tuesday from the U.S. Department of the Treasury. The 2021 round marks the second year of the incentive’s five-year extension at $5 billion annually. The Community Development Financial Institutions Fund (CDFI) Fund received 199 applications for this round of allocations. Round 18 applicants are headquartered in 43 states, the District of Columbia, Guam and Puerto Rico. These community development entities requested $14.7 billion in total NMTC allocation authority, nearly triple the $5 billion available under Round 18.
The allocation will be covered in an upcoming episode of the Tax Credit Tuesday podcast.