Recent News
The Community Development Financial Institutions (CDFI) Fund today released updated documents related to the calendar year 2020 (CY 2020) new markets tax credit (NMTC) application, as well as an updated list of frequently asked questions.
Louisiana Gov. John Bel Edwards signed legislation to make businesses affected by Hurricane Laura eligible as qualified active low-income community businesses (QALICB) for qualified equity investment (QEI) under the state’s New Markets Job Act incentive. Under S.B. 14, the change applies to QEIs made in those businesses on or after Aug. 1, 2020.
The Community Development Financial Institutions (CDFI) Fund today announced the approval of a $100 million guarantee under the fiscal year (FY) 2020 round of the CDFI Bond Guarantee program, which provides long-term, fixed-rate capital for investments in low-income communities. More than $1.7 billion has been guaranteed since the inception of the CDFI Bond Guarantee program.
Legislation introduced in the Louisiana House of Representatives would amend the state New Markets Jobs Act incentive to make businesses affected by Hurricane Laura eligible as qualified active low-income community businesses (QALICBs) for qualified equity investments (QEIs) made on or after Aug. 1, 2020. Similar legislation was introduced in the state Senate.
A bipartisan group of House Ways and Means Committee members submitted a letter this week calling on the Community Development Financial Institutions (CDFI) Fund to ensure Native communities have fair access to the new markets tax credit (NMTC).
