New Markets Tax Credit Receives One-Year, $5 Billion Extension

Contact: Ayrianne Parks, [email protected], (202) 393-5225 Spending Bill Expected to be Signed Into Law Today Authorizes $1.5 Billion Increase in Allocation WASHINGTON, D.C. (December 20, 2019) – The Fiscal Year 2020 appropriations bill , H.R. 1865, which will signed into law today by President Trump, includes a one-year, $5 billion extension of the New Markets…

$5 Billion in NMTC Authority included in Tax Deal

Overnight, congressional negotiators reached a deal on expired tax provisions that would provide a one-year New Markets Tax Credit extension at an allocation level of $5 billion for 2020. The legislation is expected to pass the House and Senate by the end of the week. The Coalition put together a video with our projections on…

Tax Policy Trends and Plans for 2020 Were Focus for Lawmakers, Community Development Leaders at Annual D.C. Policy Conference

Coalition gathers NMTC stakeholders, releases state statistics WASHINGTON, Dec. 16, 2019 /PRNewswire/ — New Markets Tax Credit extension legislation, tax policy trends and plans for 2020 were the focus as the New Markets Tax Credit (NMTC) Coalition held its annual NMTC Policy Conference late last week in Washington, D.C. The two-day event featured several members of Congress as keynote speakers, included…

CRA Modernization Proposal Released

The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) are soliciting comment on a new proposal to modernize Community Reinvestment Act (CRA) regulations. Notice of Proposed Rulemaking OCC Summary OCC Fact Sheet Changes to CRA are of great interest to NMTC practioners. Bank investors are important partners in…

CRA Modernization Proposal Coming Soon

With the OCC set to release a proposal to modernize CRA rules and the FDIC set to vote on it tomorrow, we thought we’d repost our comment letter in response to the framework offered up last year.

New State Fact Sheets

We’ve updated our State Fact Sheets with NMTC data through the 2nd quarter of 2019.