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New Markets Tax Credit Application Workshop
December 12, 2006
Federal Reserve Bank of Dallas

The U.S. Treasury's Community Development Financial Institutions (CDFI) Fund conducted an application workshop for its New Markets Tax Credit (NMTC) Program at the Dallas Fed on Tuesday, December 12, 2006. The purpose of this workshop was to describe how the NMTC Program works, including how to apply for certification as a Community Development Entity (CDE) and how to apply to compete for an allocation of NMTCs in the upcoming round.

The CDFI Fund anticipates that the next round of the NMTC Program will officially open on December 1, 2006, with the publication of a Notice of Allocation Availability (NOAA) in the Federal Register. Under this fifth round of the NMTC Program, the CDFI Fund has the authority to issue $3.5 billion in allocations under the general round and an additional $400 million for recovery and redevelopment in the Gulf Opportunity Zone.