ARTICLE
10 September 2014

CDFI Fund Opens Next Round Of NMTC Allocations

DM
Duane Morris LLP

Contributor

Duane Morris LLP, a law firm with more than 800 attorneys in offices across the United States and internationally, is asked by a broad array of clients to provide innovative solutions to today's legal and business challenges.
Today the CDFI Fund announced the opening of the next round (2014) of New Markets Tax Credit allocations.
United States Finance and Banking

Today the CDFI Fund announced the opening of the next round (2014) of New Markets Tax Credit allocations.  Subject to Congressional authorization, the CDFI Fund intends to award $5 billion of New Markets Tax Credit allocation in the next round.  Pursuant to the announcement today by the CDFI Fund, CDE applications must be submitted by August 22, 2014, applications for New Markets Tax Credit allocation must be submitted by October 1, 2014, and prior allocates must satisfy their required issuance of qualified equity investments by January 30, 2015.

Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm's full disclaimer.

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