Treasury: IRS and Treasury Announce Opportunity Zones Designations for Over 6,500 Communities Across America Effective January 1, 2027
The Working Families Tax Cuts Created a Permanent Process for States to Direct More Capital to Overlooked Communities The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today announced the Qualified Opportunity Zone (QOZ) designations for all 50 states, territories, and the District of Columbia. Under President Trump’s Working Families Tax Cuts,…
CDFI Fund: Supplemental Guidance Provided for CY 2026 NMTC Program Applicants
The Community Development Financial Institutions Fund (CDFI Fund) has posted on its website an updated calendar year (CY) 2026 New Markets Tax Credit Program (NMTC Program) Supplemental Frequently Asked Questions (FAQ) document and the CY 2026 Application Webinar recording. • CY 2026 NMTC Program Supplemental FAQ Document This document provides responses to questions submitted after the…
Treasury: Trump Administration Advances the Establishment of America’s First Nationwide School Choice Program
Treasury and IRS Issue Proposed Regulations to Implement the Education Freedom Tax Credit The U.S. Department of the Treasury and the Internal Revenue Service issued proposed regulations to implement the new Federal Scholarship Tax Credit under section 25F, commonly known as the Education Freedom Tax Credit, the first federal tax credit supporting private contributions for K-12…
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…
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…