Treasury Announces its Latest Round of Federal Tax Credit Allocations to Community Development Entities

Consumer Finance Department of Treasury Miscellany

On November 17, Treasury announced that its Community Development Financial Institutions Fund (CDFI Fund) will provide a total of $7 billion in New Markets Tax Credit (NMTC) awards to over 120 organizations nationwide. The 120 organizations receiving awards were selected from a pool of 238 applicants that requested approximately $17.6 billion in allocation authority. This year’s award brings the total amount awarded through the NMTC Program to $50.5 billion.