New CDVCA Website Coming Summer 2022
The New Markets Tax Credit (NMTC) Program, administered by the Community Development Financial Institutions (CDFI) Fund of the Department of Treasury, provides tax credits for new private sector investment in economically distressed communities through certified Community Development Entities (CDEs). Through a competitive allocation procedure, the CDFI Fund awards tax credits based on the submissions of allocation applications.
Four types of activities by CDEs are possible when utilizing the NMTC credits:
- Making investments in or loans to qualifying businesses
- Providing financial consulting to businesses and residents of low income communities
- Making investments in or loans to other CDEs which then make investments in, loans to, or provide financial consulting to qualifying businesses
- Purchasing loans from CDEs
Click here to visit the section of the CDFI Fund’s website pertaining to the NMTC Program.