The Community Development Financial Institutions (CDFI) Fund today announced that it received 263 applications from community development entities (CDEs) requesting a combined $19.9 billion in allocation authority under the 2014 round of the New Markets Tax Credit (NMTC) program. The 2014 notice of allocation authority makes up to $5 billion in tax credit allocation authority available for the current round, pending Congressional authorization. The 2014 round applicants are headquartered in 44 states, the District of Columbia, Guam and Puerto Rico.
Through the first 11 rounds of the NMTC program, the CDFI Fund has made 836 awards totaling $40 billion in tax credit allocation authority. This includes $3 billion in Recovery Act awards and $1 billion for Gulf Opportunity Zones.