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…
Treasury: New Designation Cycle for Opportunity Zones Opens
The Working Families Tax Cuts Permanently Established a Process for States to Drive More Capital to Overlooked Communities Across America The U.S. Department of the Treasury announced the opening of the next nomination period for states, territories, and the District of Columbia to nominate eligible communities to be designated as Qualified Opportunity Zones (QOZs). Under…
CDFI Fund: Public Comment Sought on NMTC Program Allocation Application and AQEI Tracking System
The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Pub. L. No. 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently,…
Treasury: Education Freedom Tax Credit Guidance Previewed
The U.S. Department of the Treasury previewed forthcoming Treasury and IRS guidance for the implementation of the new federal scholarship tax credit enacted as part of the Working Families Tax Cuts. “Under President Trump’s leadership, we are taking a transformative step toward an education system that fits the student rather than the other way around,” said…
CDFI Fund: Special Topic Webinar on Updated NMTC TLR User Experience in AMIS Scheduled for May 28th
The CDFI Fund will host a specialized webinar focused on Transaction Level Report (TLR) reporting requirements and considerations related to the New Markets Tax Credit Program (NMTC Program). This webinar is intended to provide NMTC stakeholders with additional guidance and an opportunity to ask questions related to the updated user AMIS interface for NMTC TLR…
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…
Federal Reserve: Governor Barr Delivers Speech on Developing Communities Through Public-Private Partnerships
Read the text of Governor Michael S. Barr’s speech on “Developing Communities Through Public-private Partnerships” at the 2026 National Community Investment Conference, Phoenix, Arizona Thank you for inviting me here today. Let me also thank those at all 12 of the Reserve Banks, the Board of Governors, and the staff at FedCommunities for their efforts…
ICBA: ICBA Urges Reform to Credit Union Tax Exemption
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the year’s first reported acquisition opens in a new tabof a tax-paying community bank by a tax-exempt credit union that has already acquired a community bank. “With tax-exempt credit unions continuing their troubling pace of acquiring tax-paying community banks into…
Treasury: Secretary Bessent Announces Launch of New Platform on Working Family Tax Cuts
Secretary Scott Bessent today announced the launch of Treasury’s Working Family Tax Cuts: Ushering in a New Golden Age, a platform designed to provide Americans with a clear view into President Trump’s pro-family, pro-worker, and pro-growth economic agenda. “Treasury is opening the books for the American people,” Secretary Bessent said. “Starting with the historic Working Families…