CDFI fund opens 2015 Round of New Markets Tax Credit Program

October 22, 2015  |   CDVCA Ventures Blog,Industry News   |     |   Comments Off on CDFI fund opens 2015 Round of New Markets Tax Credit Program

On Wednesday October 21, 2015 The CDFI fund officially opened the 2015 round of the New Markets Tax Credit Program (NMTC Program) through the release of the Notice of Allocation Availability (NOAA). The NMTC program channels private sector capital into struggling communities by providing tax credits to taxpayers who make equity investments in Community Development Entities (CDEs). The CDEs then employ the capital raised into businesses and projects in low-income communities. To date, the CDFI Fund has given out 912 awards to CDE’s. These awards amounted to $43.5 billion in tax credit allocation. To learn more about deadlines and the application steps, the CDFI fund has posted detailed information on the NMTC program page.

Related Posts