New Markets Tax Credit (NMTC)

NH&RA News

NH&RA Hosts ICAST IRA & BIL Instant Benefit Estimate Calculator

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

Member News

CohnReznick Launches Opportunity Zone and NMTC Mapping Tool

CohnReznick has launched an updated interactive mapping tool designed to assist New Markets Tax Credit and Opportunity Zone Investment stakeholders.  This mapping tool helps access eligibility using census-based criteria from the 2011-2015 and 2006-2010 American Community Surveys.  Either census database may be used to evaluate eligibility through a transition period ending October 31, 2018*.  To identify the […]

NH&RA News

CDFI Fund Retires CIIS—Compliance Reporting is Live in AMIS

Earlier this summer, the CDFI Fund announced that it was integrating award recipient reporting into the Award Management Information System (AMIS). I am very happy to report that the transition is now complete and the Community Investment Impact System (CIIS), is officially retired. Going forward, award recipients will now submit reports—including Institutional Level Reports (ILRs), […]

NH&RA News

New Markets Tax Credit Applications Exceed Authority 4-Fold

Applicants requested an aggregate total of $14.8 billion in NMTC allocation authority, over four times the $3.5 billion in authority available for the 2018 round.


House Bill Would Give Rural NMTC $1 Billion Boost

The additional authority would be reserved for Rural Job Zones. Furthermore, at least 25% of the additional authority would be set aside for persistent poverty counties and/or high migration rural counties.

General News

NMTC Responsible for 272 Projects, 60,000 Jobs in 2017

The New Markets Tax Credit Coalition recently released its 2018 New Markets Tax Credit (NMTC) Progress Report.

General News

CDFI Fund Opens 2018 NMTC Funding Round, Apps Due June 28

The CDFI Fund recently released the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2018 round of the New Markets Tax Credit Program (NMTC Program). The NOAA makes up to $3.5 billion in tax credit allocation authority available for the CY 2018 round.


NMTC Coalition Launches Cosponsorship Drive

NH&RA urges members and other interested parties to support legislation to make the New Markets Tax Credit permanent as well as increase annual allocation authority. The NMTC Coalition has provided information and resources for how you can help.

General News

CDFI Fund Awards $3.5 Billion in New Markets Tax Credits

The Fund received 230 applicants this year requesting a total of $16.2 billion in NMTCs.


Tax Reform Signed Into Law; PABs, Historic, NMTC Preserved

Today, the Senate and House have both passed the conference report of HR 1 – the GOP’s tax overhaul plan. The bill is expected to be signed into law by President Trump later this week.

General News

New Markets Tax Credit Pays for Itself and Then Some, New Report Finds

Between 2003 and 2015, NMTC investments generated more than $156 billion in economic activity, creating over 1 million jobs and $6.7 billion in state and local tax revenues.


NMTC/HTC Support Letter for House Republicans Closes Today – Urge Your Rep. to Sign-On

Congressman Smucker (R-PA) is requesting signatures for a letter urging Speaker Paul Ryan and Chairman Kevin Brady to preserve the Historic Tax Credit (HTC) and make the New Markets Tax Credit (NMTC) permanent. The letter is open to House Republicans and it closes TODAY, Wednesday, November 29th at 7 p.m. Eastern. 


Tax Reform: House Bill Passes Floor Vote, Senate Committee Approves Markup and Improves HTC

The House is prepared for a Thursday floor vote on The Tax Cuts and Jobs Act (H.R. 1), meanwhile, the Senate Committee on Finance is in its third day of markup and a modified chairman’s mark was released by Chairman Orrin Hatch (R-UT) Tuesday night.

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