July 14, 2020

Volume X, Number 196

July 13, 2020

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New Market Tax Credit Allocations Announced

On November 17, 2016, the Community Development Financial Institutions (CDFI) Fund announced the allocation of $7 billion of Federal NMTC authority. The Community Development Entities receiving this allocation are actively looking for projects to fund.

If you have or are aware of a project looking for federally subsidized funding, you may be in luck. Both real estate and operating business projects carried out by both for-profit and non-profit entities may qualify if located in a low-income community or if such business is owned by, employs, or serves low-income persons.

© 2020 Jones Walker LLPNational Law Review, Volume VI, Number 322

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About this Author

Jonathan Katz Federal Tax Attorney Jones Walker
Partner

Mr. Katz is a partner in the firm's Tax & Estates Practice Group. Mr. Katz' practice focuses predominately on federal taxation, with a particular focus in federal and state new markets tax credit and historic rehabilitation tax credit transactions. In addition to his tax credit practice, his federal tax practice includes estate planning and administration, federal alcohol excise tax compliance, nonprofit formation and compliance, S corporation compliance, and business organizations.  

In his tax credit practice, Mr. Katz represents...

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