New Market Tax Credit Briefs - September 2020
The Community Development Financial Institutions (CDFI) Fund July 21 announced it extended the deadline to submit feedback on several applications and reports until Nov. 5. The CDFI Fund sought feedback in May on its SCDI certification application, annual certification and data collection report and new certification transaction-level report. The CDFI Fund has a dedicated page on its website with more information.
The CDFI Fund deployed new transaction level report (TLR) templates Aug. 1 for new markets tax credit (NMTC) participants. The TLR templates are also for participants in the CDFI program and the Native American CDFI Assistance program. Organizations will be able to access the templates through the reports tab on the Awards Management Information System. The CDFI Fund said it would provide updated guidance material for the new TLR templates in August.
A unity task force created by Vice President Joe Biden and Sen. Bernie Sanders, D-Vt., July 8 released a set of policy recommendations for a Biden administration if he wins the presidential election in November. The 110-page task force blueprint calls to expand and make permanent the NMTC and to double the funding for CDFIs. The policy recommendations also call for robust investments in affordable housing and renewable energy.