Recent News

Thursday, December 13, 2018

Annie Donovan announced today at the New Markets Tax Credit Coalition annual conference in Washington, D.C., that she will step down as the director of the Community Development Financial Institutions (CDFI) Fund. Donovan said that she will be replaced by Jodie Harris. Harris is the director, small business, community development and housing policy in the Office of Financial Institutions at the U.S. Treasury Department.  Donovan said the change will be made in January.

Tuesday, November 27, 2018

The Community Development Financial Institutions (CDFI) Fund today announced that 116 organizations submitted eligible applications requesting more than $570 million in funding under the fiscal year (FY) 2018 Capital Magnet Fund round, compared to the $143 million in awards available. Fifty-seven percent of applicants are certified CDFIs and the remaining 43 percent are nonprofit affordable housing organizations. The awards can be used to finance affordable housing activities, as well as related economic development activities and community service facilities.

Monday, November 26, 2018

The Internal Revenue Service issued a notice of proposed rulemaking today for a provision of last year’s tax reform legislation that limits the business interest expense deduction for certain taxpayers.

Friday, November 9, 2018

The Treasury Department on Thursday released the 2018-2019 Priority Guidance Plan, which includes plans to provide guidance for the low-income housing tax credit (LIHTC), new markets tax credit (NMTC) and historic tax credit (HTC). The Priority Guidance Plan covers the period from July 1, 2018, through June 30, 2019.

Wednesday, November 7, 2018

Results from Tuesday’s elections–with Democrats taking control of the House of Representatives and Republicans maintaining control of the Senate–and their effect on the affordable housing, community development and renewable energy communities are the subject of a Notes from Novogradac blog post and a

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