HUD: USDA and HUD Historic MOU Establishes a Framework for Collaboration Across Federal Housing Programs
The U.S. Department of Agriculture (USDA) and the U.S. Department of Housing and Urban Development (HUD) entered into a historic Memorandum of Understanding (MOU) to streamline standards related to environmental review, environmental impact, environmental regulations, and physical inspections tied to housing. The agreement advances the Trump Administration’s commitment to government efficiency, deregulation and a whole-of-government approach to…
CDFI Fund: CY 2026 Round of New Markets Tax Credit Program Opens
$5 Billion in Allocation Authority Available The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2026 round of the New Markets Tax Credit Program (NMTC Program). Pursuant to the One Big Beautiful Bill Act of 2025 (Pub. L. 119-21), the…
CDFI Fund: CY 2026 New Markets Tax Credit Program Application Allocation Round Begins Soon
$5 Billion in Allocation Authority will be Available The upcoming calendar year (CY) 2026 round of the New Markets Tax Credit Program (NMTC Program) will make $5 billion in Allocation Authority available for investments in low income and distressed communities. The CDFI Fund is planning to open the CY 2026 NMTC Program Allocation Application round…
CDFI Fund: Summary Report and Public Data for NMTC Program for FYs 2003-2023 Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released a summary report and data collected on all New Markets Tax Credit (NMTC) investments across the nation from fiscal year (FY) 2003 to FY 2023. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded NMTC allocations…
FFIEC: Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
Federal bank regulatory agencies today released the 2026 list of certain 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 sound operations. The list…
Treasury: New Guidance Unlocks Economic Opportunity for Overlooked Communities Through Updated Opportunity Zones
The Working Families Tax Cuts Boosts Opportunity Zone Tax Incentive, Driving More Capital to Communities Across America The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released guidance for eligible communities across America to be designated as qualified opportunity zones (QOZs). Under President Trump’s Working Families Tax Cuts, the permanent renewal of the…
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…