NMTC Reports and Research

2018

New Markets Tax Credit Progress Report 2018
New Markets Tax Credit Coalition, June 2018

A Year of Impact: FY 2017 Year in Review
CDFI Fund, March 14, 2018

Economic Report of the President, Together with The Annual Report of the Council of Economic Advisors
February 2018

2017

New Markets Tax Credit Economic Impact Report (2003-2015)
New Markets Tax Credit Coalition, December 8, 2017

NMTC Public Data Release: 2003-2015 Summary Report
September 25, 2017

NMTC Public Data Release: 2003-2015 Data File

U.S. Department of the Treasury: CDFI Fund Complianc Review of New Markets Tax Credit Program
U.S. Department of the Treasury, August 2017

Special Report: New Markets Tax Credit A Big Deal for Rural America
New Markets Tax Credit Coalition, July 2017

New Markets Tax Credit Progress Report
New Markets Tax Credit Coalition, June 8, 2017

New Markets Capital Investment Program – Current Portfolio of Projects Produced Positive Outcomes; Cost-Effectiveness Could be Improved
Office of Program Evaluation & Government Accountability of the Maine State Legislature, March 6, 2017

Investing in Opportunity: Fiscal Year 2016 Year in Review
February 6, 2017

Access to Capital and Credit in Native Communities
Native Nations Institute, February 2017

Access to Capital and Credit in Native Communities: A Data Review

2016

Supply-Side Subsidies to Improve Food Access and Dietary Outcomes: Evidence from the New Markets Tax Credit
Matthew Freedman and Annemarie Kuhns, December 2016

New Markets Tax Credit: At Work in Communities Across America
New Markets Tax Credit Coalition, December 2016

Tax Expenditures Opportunities Exist to Use Budgeting and Agency Performance Processes to Increase Oversight (GAO-16-622)
Government Accountability Office, July 7, 2016

A Better Way: Our Vision for a Confident America
Task Force on Poverty, Opportunity, and Upward Mobility, June 7, 2016

New Markets Tax Credit Progress Report 2016
New Markets Tax Credit Coalition, June 2016

Access to Capital and Credit in Native Communit
Native Nations Institute, May 23, 2016    

A Year of Engagement and Action for the Future, 2015 Year in Review
CDFI Fund, March 2016

Commercial Lending in Indian Country: Potential Opportunities in a Growing Market
Community Developments Insights, Office of the Comptroller of the Currency (OCC), February 2016

An Investment in Opportunity: A Bold New Vision for Housing Policy in the U.S.
Enterprise Community Investment, Inc., February 2016

2015

The Community Development & Infrastructure Bipartisan Tax Working Group Report
United States Senate Committee on Finance, July 2015

The New Markets Tax Credit Progress Report 2015
New Markets Tax Credit Coalition, June 2015

CDFIs Stepping Into the Breach: An Impact Evaluation Summary Report
CDFI Fund, February 24, 2015

Introduction to Risk and Efficiency Among CDFIs: A Statistical Evaluation Using Multiple Methods
CDFI Fund, February 24, 2015

2014

Community Development Investments and Neighborhood Change: An Analysis of LISC's Building Sustainable Communities Neighborhoods
Local Initiatives Support Corporation, December 11, 2014

A Decade of the New Markets Tax Credit: An Economic Impact Analysis
New Markets Tax Credit Coalition, December 2014

Community Development Data Book: For CRA Bankers, Community Development Practitioners, and Everyone in Between
Federal Reserve Bank of San Francisco, November 2014

Community Development Loan Funds: Partnership Opportunities for Banks
Community Developments Insights, Office of the Comptroller of the Currency (OCC), October 17, 2014

New Markets Tax Credit: Creating Economic Opportunity in Rural America
New Markets Tax Credit Coalition, July 14, 2014

New Markets Tax Credit: Better Controls and Data Are Needed to Ensure Effectiveness
Government Accountability Office, July 2014, July 2014

Private Capital Public Good: How Smart Federal Policy Can Galvanize Impact Investing - and Why It's Urgent
U.S. National Advisory Board on Impact Investing, June 2014

New Markets Tax Credit Progress Report 2014
New Markets Tax Credit Coalition, 2014

CDFI Snapshot Analysis: Fiscal Year 2012
Office of Financial Strategies and Research, CDFI Fund, April 2014

WHEDA Emerging Business Performance Report: 2011 WHEDA Tax Credit Awards Cycle For the Period Ending December 31, 2013
Wisconsin Housing and Economic Development Authority, April 28, 2014

2013

Stories of Community: 2013 Community Development Corporations Report
Rapoza Associates, December 10, 2013

A White Paper: Beyond Housing, Neighborhoods and Jobs: How Federal Economic Development Tools pay back the Government
National Development Council, December 6, 2013

An International Review of OCC's Supervision of Large and Midsize Institutions: Recommendations to Improve Supervisory Effectiveness
The Office of the Comptroller of the Currency (OCC), December 4, 2013

Measuring the Benefit of Federal Tax Expenditures Used by Small Business
Quantria Strategies, LLC, for the Small Business Administration, Office of Advocacy, November 2013

Fiscal Year 2013: Investing for the Future, One Community at a Time
CDFI Fund, July 2013

Community Developments Insights: New Markets Tax Credits: Unlocking Investment Potential
Office of the Comptroller of the Currency (OCC), June 2013

The New Markets Tax Credit Progress Report 2013
The New Markets Tax Credit Coalition, June 2013

New Markets Tax Credit Program Evaluation
Urban Institute, April 15, 2013

New Markets Tax Credit Program Evaluation: Key Findings and Lessons for Future Evaluations
NMTC Program Evaluation Executive Summary
NMTC Program Evaluation Full Report
NMTC Program Evaluation Supporting Documentation: CDE and QALICB Survey Questions

New "Year in Review" Publication: The CDFI Fund's Recent Work
CDFI Fund, February 27, 2013

Community Development Financial Institutions Response to Superstorm Sandy: Impact Assessment
CDFI Fund, January 28, 2013

Tax Expenditures: Background and Evaluation, Criteria and Questions
Government Accountability Office, January 2013

2012

New Markets Tax Credit: An Introduction
Congressional Research Service, December 20, 2012

The New Markets Tax Credit Economic Impact Report 20032012
NMTC Coalition, Novogradac & Company LLP, December 2012

New Markets Tax Credit: At Work in Communities Across America
NMTC Coalition, December 2012

Searching for Markets: The Geography of Inequitable Access to Healthy & Affordable Food in the United States
CDFI Fund, May 17, 2012

Community Development Financial Institutions and New Markets Tax Credit Programs in Metropolitan and Nonmetropolitan Areas
Government Accountability Office, April 26, 2012

An Estimate: The Effect of State-Level Add-On Legislation to the Federal New Market Tax Credit Program
Center for Business and Economic Research, Ball State University, February 2012

Economic and Fiscal Impact of the Proposed Arizona New Markets Jobs Growth Investment Initiative
Arizona Chamber Foundation, January 2012

2011

OIG-12-011 Audit of the Community Development Financial Institutions Fund's Fiscal Years 2011 and 2010 Financial Statements
Office of the Inspector General, Department of the Treasury, November 15, 2011

NMTC Program Outperforms Comparable Cash Grant Program
Novogradac & Company LLP, October 20, 2011

The New Markets Tax Credit Progress Report 2011
NMTC Coalition, June 7, 2011

CDFI Fund Performance and Accountability Report for FY 2010
CDFI Fund, January 18, 2011

2010

The New Markets Tax Credit 10th Anniversary Report
NMTC Coalition, December 15, 2010

Addendum to NMTC Coalition 10th Anniversary Report
January 14, 2011

Enhancing New Markets Tax Credit Pipeline Flow: Maintaining a Continuous Deal Flow In Spite of Funding Gaps and Market Volatility
Kevin Leichner, Federal Home Loan Bank of San Francisco, October 2010 

CDFIs and Transit-Oriented Development
Prepared by the Center for Transit-Oriented Development and published by the Federal Home Loan Bank of San Francisco, October 2010

FY 2009 NMTC Data
September 21, 2010

FY 2009 NMTC Data Map
September 2010

Evaluating Community and Economic Development Programs: A Literature Review to Inform Evaluation of The New Markets Tax Credit Program
Prepared by the Urban Institute for the CDFI Fund, September 2010

New Markets Tax Credit Impacts: A Case Study in Durham, North Carolina
Amanda Frazier Wong and Sarah Wolff, Self-Help, March 2010

CDFI Fund Performance and Accountability Report for FY 2009
CDFI Fund, March 24, 2010

Revitalization Programs: Empowerment Zones, Enterprise Communities, and Renewal Communities
Government Accountability Office (GAO), March 12, 2010

Disaster Assistance: Federal Assistance for Permanent Housing Primarily Benefited Homeowners; Opportunities Exist to Better Target Rental Housing Needs
Government Accountability Office (GAO), February 16, 2010

New Markets Tax Credit: The Credit Helps Fund a Variety of Projects in Low-Income Communities, but Could Be Simplified
Government Accountability Office (GAO), January 29, 2010

2009

Joint Committee on Taxation Description Of Revenue Provisions Contained In The Presidents Fiscal Year 2010 Budget Proposal Part Two: Business Tax Provisions
September 9, 2009

Treasury Recovery Act Programs Report
September 3, 2009

New Markets Tax Credit: Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entities
Government Accountability Office (GAO), June 1, 2009

Letter from CDFI Fund Director Gambrell to GAO About Minority Entities' Participation in NMTC Program
April 23, 2009

2008

Addressing the Prevalence of Real Estate Investments in the New Markets Tax Credit Program
A Study Conducted for the Federal Reserve Bank of San Francisco and the CDFI Fund, Fall 2008

New Markets Tax Credit Bulletin Vol. 6, No. 64: Analysis of Round VI NMTC Allocations
Rapoza Associates, October 22, 2008

New Markets Tax Credit Program: Promoting Investment in Distressed Communities
CDFI Fund, October 20, 2008

List of NMTC Projects Financed Through the End of the 2006 Fiscal Year
CDFI Fund, May 2008

New Markets Tax Credit: An Introduction
March 3, 2008
Congressional Research Service (CRS) Report for Congress

HUD and Treasury Programs: More Information on Leverage Measures Accuracy and Linkage to Program Goals Is Needed in Assessing Performance
February 19, 2008
Government Accountability Office (GAO)

2007

The New Markets Tax Credit: An Introduction
Congressional Research Service (CRS) Report for Congress, June 19, 2007

Community Developments Insights: New Markets Tax Credits: Unlocking Investment Potential
Office of the Comptroller of the Currency (OCC), February 27, 2007

New Markets Tax Credit Appears to Increase Investment by Investors in Low-Income Communities, but Opportunities Exist to Better Monitor Compliance
January 31, 2007

2006

CDFI Fund Performance and Accountability Report, Fiscal Year 2005
April 2006

2005

CDFI Fund Performance and Accountability Report, Fiscal Year 2004
2005

2004

State Tax Credit Incentives for Equity Investments: A Survey of Current Practices
Community Develpoment Venture Capital Alliance (CDVCA), July 2004

The New Markets Tax Credit Program: A CEOs for Cities Briefing Paper: How This New Incentive Can Strengthen America's Cities
Jim Miara for the CEOs for Cities, April 2004

CDFIs: Providing Capital, Building Communities, Creating Impact, Fiscal Year 2002
CDFI Data Project (CDP), May 28, 2004

Community Development: Federal Revitalization Programs Are Being Implemented, but Data on the Use of Tax Benefits Are Limited
General Accounting Office (GAO), March 5, 2004

Community Investing 2002: Safety & Soundness Data Findings
National Community Capital Association (NCCA), February 25, 2004

CDFIs: Bridges Between Capital and Communities
National Community Capital Association (NCCA), February 25, 2004

New Markets Tax Credit Program: Progress Made in Implementation, but Further Actions Needed to Monitor Compliance
General Accounting Office (GAO) Report to Congressional Committees, January 2004

2003

CDFI Fund Accountability Report, Fiscal Year 2003
June 2003

2002

CDFIs: Bridges Between Capital and Communities
National Community Capital Association (NCCA), 2002