Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NMTC electronic allocation application is available
WASHINGTON (5/11/10)--The Community Development Financial Institutions Fund (CDFI Fund) has followed its April introduction of the 2010 round of the New Markets Tax Credit (NMTC) Program by releasing the online Allocation Application and instructions. The NMTC application, which is now available through all myCDFIFund accounts, will be discussed during conference calls on May 13 and 19. Potential applicants can also learn more about the program and the application process via online instructions and an archived webcast, both of which are located on the CDFI Funds website. Credit unions are among those eligible to participate in the NMTC, which seeks to spur the investment of new private sector capital into low-income communities by permitting individual or corporate taxpayers to receive a credit against federal income taxes for making Qualified Equity Investments. Those investments must be made in designated Community Development Entities. Organizations that have received credits through the NMTC program, which has been given $5 billion in tax credit authority for 2010, have raised $15.8 billion in equity investments since the program began in 2002, the CDFI recently said. The Treasury's CDFI Fund allocates the tax credits annually through a competitive application process. For the full CDFI fund release, use the resource link.
Other Resources

RSS print
News Now LiveWire
#RBC draws letters from @SenatorBegich, @SenShelby to @TheNCUA See #NewsNow http://t.co/JvLBwkHwxF
59 minutes ago
It's #summercamp with a financial literacy, #creditunion twist http://t.co/5eaps9ZoVB
2 hours ago
Mich #creditunions encourage everyone to #CULunchLocal Oct 14 as part of #ICUDay http://t.co/NZp71fgr8Z
3 hours ago
.@IllinoisLeague Hession: #HB5342 cause for celebration...will serve as a model across the country for state, fed regulators @GovernorQuinn
3 hours ago
.@GovernorQuinn signs #HB5342 providing parity for state-chartered #creditunion examinations via @IllinoisLeague http://t.co/yrhoCkE4ER
4 hours ago