CDFI Fund Announces $7 Billion Allocation of New Markets Tax Credits

By K. Christy Vouri-Misso and McDermott Will & Emery on December 9, 2016

On November 17, 2016, the US Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced the largest single round award of New Market Tax Credit (NMTC) allocations since the program’s creation in 2001. One hundred twenty organizations, headquartered in 36 states, the District of Columbia and Puerto Rico, were awarded a total of $7 billion of NMTC allocations.

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Tags: CDE, CDFI Fund, community development entity, Community Development Financial Institutions Fund, New Market Tax Credit, NMTC, QALICB, qualified active low-income community business, US Department of the Treasury

K. Christy Vouri-Misso
K. Christy Vouri-Misso focuses her practice on all stages of complex federal tax controversies including Internal Revenue Service (IRS) examinations, administrative appeals, voluntary disclosures, and litigation. She has settled multiple tax disputes with IRS legal counsel avoiding costly litigation in court. Read K. Christy Vouri-Misso's full bio.

McDermott Will & Emery

CDFI Fund Announces $7 Billion Allocation of New Markets Tax Credits

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