CDFI Fund: CY 2018 Round of New Markets Tax Credit Program Now Open

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today 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. The CDFI Fund provided the NOAA on its website in anticipation of its publication in the Federal Register on May 11, 2018.

The NMTC Program spurs investment of private sector capital into distressed communities by providing a tax credit to corporate or individual taxpayers who make qualified equity investments in designated Community Development Entities (CDEs). The CDEs, in turn, invest the capital raised into projects and businesses in low-income communities. The credit provided to the investor totals 39 percent of the investment in a CDE and is claimed over a seven-year credit allowance period.

The CDFI Fund has made 1,105 awards—totaling $54 billion in tax credit allocation authority—to CDEs through the NMTC Program since the program’s inception. More information about the NMTC Program can be found on the program’s webpage,, or in the program’s fact sheet.

Important Deadlines

  • CDE Certification Application: May 24, 2018
  • NMTC Electronic Application submission: June 28, 2018

Please refer to the NOAA for more details about these and other deadlines.

Application Materials

  • NMTC application materials and resources are available at under How to Apply Step 2: Apply.

    This round, the NMTC Allocation Application will be completed and submitted electronically via the CDFI Fund’s Awards Management Information System (AMIS). Currently, a paper version of the NMTC Allocation Application is available on the website. The CDFI Fund anticipates that access to the electronic application in AMIS will be made available within three weeks. Please check the How to Apply Step 2: Apply section for updates.

  • CDE Certification application materials and resources are available at under How to Apply Step 1: Apply.

Learn About Applying to the NMTC Program

To provide more information about the NMTC Program and the application process, the CDFI Fund has posted presentations for potential applicants on the NMTC Program page,, under How to Apply Step 2: Apply.

In addition to the detailed information that is available through the NOAA, NMTC Application, NMTC Application Frequently Asked Questions, and presentations, the CDFI Fund will conduct two one-hour conference calls to answer application questions. Please see below for the dates and times for each call. No presentations will be given during the calls; only questions from participants will be addressed.

NMTC Application Conference Calls

  • Wednesday, May 16, 2018, 1:00 to 2:00 p.m. ET
  • Thursday, May 17, 2018, 2:00 to 3:00 p.m. ET

The dial-in number and passcodes are the same for both calls. The dial-in number is 1-800-779-3179 and the pass code is 6814029. No prior registration is necessary. Requests for reasonable accommodations under section 504 of the Rehabilitation Act should be directed to Jay Santiago at 202-653-0300 no later than 48 hours before the conference calls begin.


For more information on the NMTC application or certification as a CDE, please contact the CDFI Fund’s Help Desk by submitting a service request in AMIS or by telephone at 202-653-0421.

Learn more about the CDFI Fund and its programs at

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