Treasury: New Markets Tax Credit Awards Paired with Program Reforms
The U.S. Department of the Treasury (Treasury) today announced New Markets Tax Credits (NMTC) awards to promote U.S. economic growth. Treasury also announced reforms to focus NMTC awards on community revitalization and ensure NMTC awardees’ compliance with federal anti-discrimination laws. The awards announced today are a double round, covering 2024 and 2025. Secretary Scott K.H….
CDFI Fund: Treasury Pairs New Market Tax Credit Awards with Program Reforms
The U.S. Department of the Treasury (Treasury) today announced New Markets Tax Credits (NMTC) awards to promote U.S. economic growth. Treasury also announced reforms to focus NMTC awards on community revitalization and ensure NMTC awardees’ compliance with federal anti-discrimination laws. The awards announced today are a double round, covering 2024 and 2025. Secretary Scott K.H….
Federal Reserve: Governor Barr Delivers Speech on “Supporting Investment in Communities: The First 25 Years of the New Markets Tax Credit”
Speech delivered by Governor Michael S. Barr at the 2025 Fall New Markets Tax Credit Conference, New Orleans, Louisiana Thank you for asking me to be part of this celebration of 25 years of the New Markets Tax Credit (NMTC) and also the historic achievement of its permanent extension.1 I consider the credit a great achievement…
CDFI Fund: Acceptance of Community Development Entity (CDE) Certification Applications Resumes
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) will resume acceptance of new Applications for certification as a Community Development Entity (CDE) effective September 9, 2025. The temporary “blackout” period, originally announced on May 5, 2025, was implemented to allow the CDFI Fund to assess and implement updates to the CDE Certification…
Agencies Release 2025 List of Distressed and Underserved Nonmetropolitan Middle-Income Geographies
Federal bank regulatory agencies today released the 2025 list of distressed or underserved nonmetropolitan middle-income geographies where certain bank activities are eligible for Community Reinvestment Act (CRA) credit. Under the CRA, the agencies assess a bank’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and…
CDFI Fund: Application Demand for CY 2024-2025 Round of New Markets Tax Credit Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received 216 applications for the calendar year (CY) 2024-2025 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program advances economic development in economically distressed communities by making tax credit allocations available to Community Development…
HUD: $225 Million Awarded to Preserve and Revitalize Housing
Funds will support manufactured housing communities through repairs, infrastructure upgrades, homeowner assistance and creation of new homes. Today, the U.S. Department of Housing and Urban Development (HUD) announced the award of $225 million in competitive grant funding for 17 awardees with proposed projects across 26 states through the Preservation and Reinvestment Initiative for Community Enhancement…
CDFI Fund: CY 2024-2025 Round of New Markets Tax Credit Program Opens
$10 Billion in Allocation Authority Available 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 next round of the New Markets Tax Credit Program (NMTC Program). A total of $10 billion in Allocation Authority is available through this combined round that…
CDFI Fund: $5 Billion in New Markets Tax Credits Announced
Awards will Spur Economic and Community Development in Low-Income Urban, Rural and Tribal Communities Nationwide The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today announced $5 billion in New Markets Tax Credits that will spur investment and economic growth in low-income urban and rural communities nationwide. A total of 104…
HUD: More Than $6 Million Announced to Revitalize Communities with Distressed HUD-Assisted Housing
Choice Neighborhood Planning Grants will kickstart community-driven transformation plans that will benefit residents and local economies Today, the U.S. Department of Housing and Urban Development (HUD) announced $6.5 million in Choice Neighborhoods Planning Grants for 13 communities in 11 states across America to redevelop severely distressed public housing or HUD-assisted housing, improve outcomes for residents,…