Recent News

Wednesday, November 13, 2019

The Kentucky Department of Revenue issued a private letter ruling (PLR) Nov. 5 concerning a proposed stacked leverage structure in a transaction made using the state’s new markets tax credit. KY-PLR-19-10 includes 13 conclusions related to the specific request, including that loans made by sub-community development entities qualify as qualified low-income community investments if they meet specific requirements.

Friday, November 8, 2019

The New Markets Tax Credit (NMTC) Coalition is circulating a sign-on letter to leaders in Congress seeking the extension of the NMTC. Organizations can sign on to the letter, which calls for a permanent extension and expansion of the NMTC along the lines of the New Markets Tax Credit Extension Act.

Wednesday, October 9, 2019

The Internal Revenue Service (IRS) this week released the 2019-2020 priority guidance plan, which established guidance priorities for the Department of the Treasury and IRS for the period from July 1, 2019, through June 30, 2020.

Friday, October 4, 2019

The Community Development Financial Institutions (CDFI) Fund Thursday released an updated new markets tax credit (NMTC) application and NMTC application frequently asked questions document.

Tuesday, September 10, 2019

The Community Development Financial Institutions (CDFI) Fund today announced an update to the certification requirements for applicants of a CDFI program or Native American CDFI Assistance (NACA) program financial assistance award. Beginning with the fiscal year 2020 application round, CDFI program and NACA program financial assistance applicants must be certified CDFIs by the date the notice of funds availability (NOFA) is published in the Federal Register.

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NMTC Program Outperforms Comparable Cash Grant Program
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