CDFI Fund Releases Public Comments Submitted for the New Markets Tax Credit Program Allocation Application

Washington, DC – The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund announced today that it has posted the comments submitted in response to its Request for Public Comment related to the New Markets Tax Credit (NMTC) Program Allocation Application.

The NMTC Program was established by the Community Renewal Tax Relief Act of 2000. It provides an incentive to investors in the form of tax credits over seven years, which is expected to stimulate the provision of private investment capital that, in turn, will facilitate economic and community development in low-income communities. In order to qualify for an allocation of tax credits through the NMTC Program, an entity must be certified as a qualified Community Development Entity, or CDE, and submit an allocation application to the CDFI Fund.

The Federal Register Request for Public Comment notice, published on August 3, 2009, specifically invited comments and suggestions regarding the NMTC Program Allocation Application.

The results of the Request for Public Comment may be viewed here

The Federal Register notice requesting Public Comment on the NMTC Program Allocation Application may be viewed here

For more information on the CDFI Fund and its programs, please visit: www.cdfifund.gov

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[CDFI-2009-62]