The Community Development Financial Institutions (CDFI) Fund this week reported that it tentatively plans to open the calendar year 2021 (CY 2021) new markets tax credit (NMTC) allocation application round this fall and added that the round will include a 14-day period for community development entities (CDEs) to submit their certification if they are not currently certified. CDE certification applications are reviewed on a rolling basis, so applicants are advised to apply as early as possible.
The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund updated its guidance and information this month for the fiscal year (FY) 2021 application round on its website.
The Ohio Department of Development opened Tuesday the window to apply for its Transformational Mixed Use Development program, which provides a tax credit against costs incurred while building a development. One-hundred million dollars is available in estimated tax credits per year for fiscal years (FY) 2022, 2023, 2024 and 2025.
The Community Development Financial Institutions (CDFI) Fund will publish in Wednesday’s Federal Register a notice proposing minor revisions to CDFI Bond Guarantee program forms such as deleting and adding lines to applications and reports and updating calendar years. A proposed clarifying paragraph would be added to the guarantee application regarding applications that are deferred until a subsequent application round.
Rep. Mike Thompson, D-California, introduced today the Local Food Production Enhancement Act of 2021, a bill aimed at boosting investment in agricultural production through new markets tax credits (NMTCs). H.R. 5176 would make qualified farming businesses eligible for the NMTC and adjust the applicable percentage of new qualified equity investments (QEIs) to 6% for the first four allowance dates and 7% for the remainder.
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