New Markets Tax Credit (NMTC)

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

The Internal Revenue Service is soliciting comments by August 10 on IRS Form 8874, which is completed and submitted by investors to report equity investments made in community development entities (CDEs) under the federal new markets tax credit program.

Applicants for an allocation of funds under the 2009 New Markets Tax Credit (NMTC) Program round are reminded that the qualified equity investments (QEI) issuance reporting deadline is approaching on Wednesday, June 17.

The Community Development Financial Institutions (CDFI) Fund recently announced that it had received a total of 249 applications for New Markets Tax Credits (NMTC) under the 2009 funding round.

The CDFI Fund is inviting general comments concerning the “New Markets Tax Credit (NMTC) Program-Community Development Entity (CDE) Certification Application.”

The Community Development Financial Institutions (CDFI) Fund has issued a new document listing and answered frequently asked questions on compliance issues under the federal new markets tax credit program.

NH&RA is urging Congress to take action to make a critical technical change to the New Markets Tax Credit Program, making it easier to use the subsidy on projects involving multiple buildings.

NH&RA has recently updated its Digital Green & Sustainable Development Resource CD-ROM to include additional recordings and digital resources. This CD-ROM includes select session recordings and supporting materials including PowerPoint Presentations and Conference Book, digital copies of recent issues of Tax Credit Advisor (TCA) focusing on Green Design & Development (April 2008 & 2009) and Renewable Energy Incentives (August 2008), databases summarizing local, state & federal Green Incentives and QAP Requirements and more…

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) will conduct a series of conference calls regarding certification of community development financial institutions (CDFIs).

Community Development Financial Institutions (CDFI) Fund has announced the appointment of José Villar to serve as the Chief Operating Officer (COO). As the COO, Mr. Villar will serve as the Director’s principal executive on CDFI Fund operations and program processes.

Novogradac & Company published in its April New Markets Tax Credit Report an article exploring IRS Private Letter Ruling 200910024 (PLR), released March 6, 2009, which addresses the targeted population’s gross income requirement.

The Community Development Financial Institutions (CDFI) Fund today released an amended Notice of Allocation Availability (NOAA) for the 2009 round of the New Markets Tax Credit (NMTC) Program.

Treasury Department’s Community Development Financial Institutions (CDFI) Fund is releasing its implementation plan to award funds from the the American Recovery and Reinvestment Act (Recovery Act). The New Markets Tax Credit portion of the plan provides details on how an additional $1.5 billion in NMTC allocation authority will be provided to applicants who applied for NMTC allocation authority under the 2008 application round.