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2012 Allocation Round for New Markets Tax Credit (NMTC) Program Now Open

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The CDFI Fund has announced the availability of up to $5 billion in tax credit allocations for the 2012 NMTC allocation round.  The goal of the NMTC Program is to spur new or increased investments into operating businesses and real estate projects located in low-income communities.  The NMTC Program attracts investment capital to low-income communities by permitting individual and corporate investors to receive a tax credit against their Federal income tax return in exchange for making equity investments in specialized financial institutions called Community Development Entities (CDEs).  Applications are due Wednesday, September 12, 2012.

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