Recent News

Tuesday, June 25, 2019

The Community Development Financial Institutions (CDFI) Fund today opened the fiscal year 2019 funding round for the Capital Magnet Fund (CMF). Through the CMF, the CDFI Fund makes awards to CDFIs and qualified nonprofit housing organizations to finance affordable housing activities, related economic development activities and community service facilities.

Wednesday, June 19, 2019

Legislation to increase the amount of qualified equity investments (QEI) allowed by Nevada’s New Markets Jobs Act was signed by Gov. Steve Sisolak and is now law. A.B. 446 adds $200 million in QEIs after July 2–while the previously authorized $200 million is available before that date. The bill stipulates that any QEI made after July 1, 2019, can’t be used for a credit until July 1, 2021. A.B.

Tuesday, June 18, 2019

The House Ways and Means Committee will mark up Thursday H.R. 3301, The Taxpayer Certainty and Disaster Tax Relief Act of 2019, legislation that includes extensions through 2020 of numerous expired and expiring tax credits. The bill would extend the new markets tax credit through the end of 2020 with an increase in allocation authority from $3.5 billion to $5 billion for the final allocation round.

Tuesday, June 4, 2019

A bill to revise Nevada’s New Markets Jobs Act to increase the amount of qualified equity investments (QEI) by $200 million and allow more investment to be eligible for a tax credit passed the state Senate and will now go to Gov. Steve Sisolak’s desk. A.B.

Thursday, May 23, 2019

The Community Development Financial Institutions (CDFI) Fund today awarded $3.5 billion in new markets tax credit (NMTC) allocation authority to 73 community development entities (CDEs) under the 2018 allocation round of the NMTC program. The CDFI Fund received applications from 214 CDEs, requesting $14.8 billion in allocation authority.

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