The CDFI Fund has released the Notice of Allocation Availability (NOAA) for the 2019 Calendar Year (CY) round of the New Markets Tax Credit (NMTC) Program. Up to $3.5 billion in tax credit allocation authority is available in the 2019 round.
The Department of the Treasury and the Internal Revenue Service (IRS) held a public hearing on the second round of Opportunity Zone regulations on July 9, 2019. OFN testified at the hearing to emphasize the need for data collection, transparency, and anti-fraud provisions to ensure the program ha
The authorization for the New Markets Tax Credit (NMTC) is set to expire at the end of 2019 and Congress has begun working on a plan for extending this valuable community development tool. The House and Senate are each pursuing their own paths to extend the NMTC.
On June 26, 2019, the House passed the Fiscal Year (FY) 2020 Financial Services and General Government (FSGG) Appropriations bill, H.R. 3351 by a vote of 224-196.