2019 NMTC Application Released
Yesterday, the CDFI Fund released the 2019 NMTC Application for $3.5 billion in NMTC allocation authority. Application materials Redlined comparison of 2018 vs 2019 Application Redlined comparison of 2018 vs 2019 Application FAQ
NMTC Coalition Releases 2019 NMTC Progress Report
The 15th edition of the NMTC Progress Report shows the NMTC continues to grow businesses and create jobs in rural and urban communities left outside the economic mainstream.
Treasury’s CDFI Fund Announces 2018 NMTC Awards
WASHINGTON, D.C. (May 23, 2019)– The U.S. Department of the Treasury’s CDFI Fund announced the Calendar Year 2018 New Markets Tax Credit (NMTC) allocation awards today. The CDFI Fund awarded $3.5 billion to 73 Community Development Entities (CDEs) from 35 states, Puerto Rico, and the District of Columbia. “The federal New Markets Tax Credit is a unique and…
New Markets Tax Credit Coalition Hosts April 2019 Fly-in, Congressional Briefing
Yesterday, on April 9th, the nation’s leading community development entities met with nearly one hundred Members of Congress and their staffs to discuss the advancement of bills introduced in the House and Senate in February that make permanent and expand the New Markets Tax Credit. The fly-in, hosted by the New Markets Tax Credit Coalition,…
House and Senate Members Move to Make New Markets Tax Credit Permanent
Bipartisan NMTC extension legislation introduced in Hosue and Senate
Lawmakers, Community Development Leaders Gather in Washington, D.C. to Discuss Tax Policy Trends and Plans for 2019
Coalition gathers NMTC stakeholders for a policy conference, releases new state statistics WASHINGTON, D.C. (December 18, 2018) — The New Markets Tax Credit (NMTC) Coalition held its Annual Conference on December 12 and 13 in Washington, D.C. The event featured members of Congress as keynote speakers, and panels on timely community development matters. Attendees were…
Thirty-four Members of the House Call for NMTC Extension During Lame Duck Session
Today, in a letter to the Ways and Means Committee, a bipartisan group of thirty-four members of the House of Representatives called for a New Markets Tax Credit extension during the Lame Duck session. The off-committee letter, which was lead by Representatives Steve Stivers (R-OH) and Jose Serrano (D-NY), calls for a permanent extension of…
Coalition Releases 2018 New Markets Tax Credit (NMTC) Progress Report
Report highlights NMTC project data from 2017, including 52 healthcare facilities, 69 manufacturers, 26 facilities for youth and families, and 23 vocational training centers WASHINGTON, D.C. (June 6, 2018) —The New Markets Tax Credit Coalition today released its 2018 New Markets Tax Credit (NMTC) Progress Report, the fourteenth edition of the report—providing a survey of…
Treasury’s CDFI Fund Announces 2017 NMTC Awards
The Department of the Treasury’s CDFI Fund announced $3.5 billion in New Markets Tax Credit allocation awards today supporting investment in low-income areas across the country.
Community Development Leaders Gathered in Washington, DC as Congress Decided Fate of NMTC in Tax Overhaul
NMTC Coalition Annual Conference attendees successfully pushed for the preservation of the largest federal incentive for investment in low-income communities
New Markets Tax Credit Report Details Major Investment to America’s Struggling Rural and Urban Communities
Data shows the NMTC financed 5,000 projects created over one million jobs all while generating enough revenue to more than pay for its cost to the federal government Washington, D.C. – Today, the New Markets Tax Credit Coalition published a new report on the economic impact of the New Markets Tax Credit (NMTC) from 2003…
Twenty-Seven House Republicans Send NMTC/HTC Support Letter to Brady and Ryan
Late last week, Congressman Smucker (R-PA) took the lead on a letter urging Speaker Paul Ryan and Chairman Kevin Brady to preserve the Historic Tax Credit (HTC) and make the New Markets Tax Credit (NMTC) permanent. The letter was open to House Republicans and 26 of his colleagues signed on. Here is the full list:…
New Treasury Data Analysis Confirms New Markets Tax Credit Generated Over One Million Jobs in America’s Most Distressed Rural and Urban Communities
Today, the New Markets Tax Credit (NMTC) Coalition provided an updated analysis of U.S. Department of Treasury data on the investment and creation of jobs in low-income communities nationwide. This data indicates that between 2003 and 2015, NMTC financing resulted in over one million jobs in low-income rural towns and urban neighborhoods—areas struggling with lagging…
Senate Finance Committee Tax Proposal Preserves NMTC
The Senate Finance Committee has released its tax plan. The bill, unlike the House bill, H.R. 1, does not repeal the New Markets Tax Credit. Statement from New Markets Tax Credit (NMTC) Coalition spokesperson Bob Rapoza in response to the Senate’s tax plan released today: “The Senate deserves high praise for keeping the New Markets…
House Proposed NMTC Repeal Would Devastate America’s Most Distressed Communities
“The House Ways and Means tax reform proposal released today by the majority demonstrates an appalling disregard for low-income rural and urban communities by repealing the federal New Markets Tax Credit program, a vital piece of America’s tax code that has leveraged over $80 billion in public-private investments and created more than 750,000 jobs in…
Full Archive
- July 18, 2019 – Coalition Releases 2019 Progress Report
- May 23, 2019 – Treasury Releases 2018 NMTC Allocation Awards
- April 10, 2019 – NMTC Coalition Hosts Fly–in and Congressional Briefing
- March 12, 2019 – House and Senate Members Move to Make NMTC Permanent
- December 18, 2018 – Lawmakers, Community Development Leaders Gather in Washington DC to Discuss Tax Policy Trends and Plans for 2019
- October 26, 2018 – Bipartisan Push to Permanently Extend Federal Tax Credit Encouraging Investment in Economically Disadvantaged Communities
- June 8, 2018 – Coalition Releases 2018 NMTC Progress Report
- February 18, 2018 – Treasury Announces 2017 NMTC Allocation Awards
- December 20, 2017 – Community Development Leaders Gather in Washington As Congress Decided Fate of NMTC
- July 25, 2017 – New Markets Tax Credit is a Big Deal for Strained Rural American Communities
- June 7, 2017 – Coalition Releases 2017 New Markets Tax Credit (NMTC) Progress Report
- May 2, 2017 – Treasury’s CDFI Fund Announces Availability of New Markets Tax Credits for 2017
- April 18, 2017 – U.S. Sen. Steven Daines Sees the NMTC at Work during Tour of New Universal Athletic Headquarters in Bozeman
- February 15, 2017 – House and Senate Members Move to Make New Markets Tax Credit Permanent
- February 7, 2017 – Some 2,000 Businesses, Banks and Nonprofits Call for New Markets Permanency
- November 17, 2016 – Treasury Announces Record $7 billion in NMTC Awards
- August 9, 2016 – Treasury Secretary visits New Markets Tax Credit Financed Grocer in Minneapolis
- August 8, 2016 – Senator Visits NMTC Financed Kansas Children’s Education and Health Center
- June 3, 2016 – Community Development Leaders Gather in Washington, DC to Discuss Tax Policy Trends and Plans for 2017
- May 23, 2016 – Chorus of Congressional Leaders Urges Permanency for Community Development Tax Credit
- March 22, 2016 – Senator Crapo Visits New NMTC-financed Hemming Cedars Site in Rexburg, ID
- December 16, 2015 – NMTC Leaders Applaud 5-Year Extension of Community Development Tax Credit
- December 9, 2015 – NMTC Community Development Leaders Meet on Heels of Tax Extenders Legislation Introduction in the House
- July 21, 2015 – Senate Finance Committee Chairman’s Mark Includes Extension and Inflation Adjustment for NMTC
- June 29, 2015 – Bipartisan Letter Signed by 55 House Members Urges Action on Federal New Markets Tax Credit
- June 15, 2015 – Treasury’s CDFI Fund Announces 2014 NMTC Awards
- May 19, 2015 – Over 1,600 Call on Congress to Make New Markets Permanent as Tax Reform Heats Up
- March 4, 2015 – Senate Bill to Make NMTC Permanent
- February 10, 2015 – House Bill Would Make New Markets Tax Credit Permanent
- December 10, 2014 – New Markets Tax Credit Coalition’s Annual Conference in DC at Pivotal Moment for Tax Extenders
- November 18, 2014 – Extend Expired New Markets Tax Credit Now
- August 8, 2014 –Two New Reports Paint an Incomplete and Inaccurate Picture of the New Markets Tax Credit
- July 14, 2014 – New Markets Tax Credit Makes Substantial Contribution In Rural America
- June 24, 2014 – New Markets Tax Credit Helps Finance the Newly-Opened National Center on Civil and Human Rights
- June 10, 2014 – New Report Demonstrates Widespread Impact of Expired Federal Tax Credit Program on Economically Distressed Communities
- April 4, 2014 – Congress Takes Steps to Secure Future of New Markets Tax Credit
- March 7, 2014 – Businesses, Community Leaders Call on Congress to Keep the New Markets Tax Credit
- January 28, 2014 – New Markets Tax Credit Financing Creates New Jobs and New Hope for South Carolina Community
- December 2013 – A Decade Later – New Markets Tax Credit Created Half A Million Jobs
- October, 2013 – Bipartisan Push Underway to Permanently Extend Federal Tax Credit Encouraging Investment in Economically Disadvantaged Communities
- September, 2013 – Thousands Call On Congress to Keep New Markets Tax Credit
- January, 2013 – New Markets Tax Credit Coalition Commends Extension of New Markets Tax Credit in American Taxpayer Relief Act
- December, 2012 – Release of the NMTC Economic Impact Report and NMTC: At Work in Communities Across America
- June, 2012 – New Markets Tax Credit 2012 Progress Report
- August 2011 – New Markets Tax Credit and Construction Jobs
- July 26, 2011 – Statement from NMTC Coalition on the Introduction of the House’s New Markets Tax Credit Extension Act of 2011
- July 25, 2011- A Comment on Back in Black and Recommendations for the New Markets Tax Credits
- June 7, 2011 – New Markets Tax Credit Provides Economic Boost, Business Growth and More Jobs for Hard-Hit Rural and Urban Areas
- February 8, 2011 – NMTCC Responds to CBS Piece “Tax Credit Rip Off”
- December 15, 2010 – Tax Package Include “Hidden Gem” for Economically Distressed Communities