The 2020 New Markets Tax Credit round is here!
The New Markets Tax Credit (NMTC) was designed to increase the flow of capital to businesses and low income communities by providing a modest tax incentive to private investors. Over the last 15 years, the NMTC has proven to be an effective, targeted and cost-efficient financing tool valued by businesses, communities and investors across the country.
Grant Management Associates can prepare your NMTC grant application.
Contact us with any questions you may have.
The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) has released the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2020 round of the New Markets Tax Credit Program (NMTC Program).
Pursuant to the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (Public Law 116-94), the NOAA makes up to $5.0 billion in tax credit allocation authority available for the CY 2020 round, an increase of $1.5 billion more than the $3.5 billion in New Market Tax Credits (NMTCs) initially authorized for allocation in CY 2019. Important CY 2020 Deadlines
· CDE Certification Application: October 6, 2020
· NMTC Application Registration in AMIS: October 9, 2020
· NMTC Allocation Application in AMIS: November 16, 2020
· QEI Issuance and QLICI Requirements: January 15, 2021