The CDFI Fund received 230 applications in its 2017 round for the New Markets Tax Credit Program. Those applications represent $16.2 billion requested in allocation authority – more than four-and-a-half times greater than the $3.5 billion available.
Applicants this year are located in 42 states, the District of Columbia, Puerto Rico, and Guam.
The CDFI Fund’s website has further information on the NMTC Program.
The Senate has yet to take up the Tax Relief for American Families and Workers Act (H.R. 7024), which passed the House in January and contains two critical LIHTC provisions.
HUD’s Office of Fair Housing and Equal Opportunity issued guidance on the Application of the Fair Housing Act to the Screening of Applicants for Rental Housing.
Member Day hearing for the Transportation, Housing and Urban Development, and Related Agencies subcommittees has been scheduled for May 8 at 10 a.m. ET at 2358-A Rayburn House Office Building for Members can join here.
During her testimony before the House Ways and Means Committee Treasury Secretary Janet Yellen said, “President Biden and I are taking additional actions to bring down the cost of key household expenses like energy, prescription drugs and housing.”