June 11, 2014
On June 5, the Community Development Financial Institutions (CDFI) Fund in the Department of the Treasury announced the Round 11 Awardees of the 2013 New Markets Tax Credit (NMTC) The $3.5 billion in NMTC authority will be awarded to 87 organizations across thirty-two states and the District of Columbia, chosen from a pool of 310 applicants that requested close to $26 billion in authority. This was the final round funded by the U.S Government. Currently, the House of Representatives and U.S. Senate have introduced legislation to make the NMTC program permanent. To see if your Senator is a co-sponsor of Senate Bill S. 1133, click here. To see if your U.S. Representative is a co-sponsor of the House Bill, H.R. 4365, click here.
This is a critical economic development tool that is at risk of not being made permanent or extended. Please contact your elected officials and share the impact this program has had in your community.