The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced that it received 208 applications under the calendar year (CY) 2020 round of the New Markets Tax Credit Program (NMTC Program).
The CDEs that applied under the CY 2020 round are headquartered in 44 states, the District of Columbia and Puerto Rico. These applicants requested an aggregate total of $15.1 billion in NMTC allocation authority, over three times the $5.0 billion in authority available for the 2020 round. Without congressional intervention, authorization for the NMTC Program will expire at the end of this year.
