New Markets Tax Credit (NMTC) Program

The NMTC Program allocates federal tax-credit authority to Certified Community Development Entities (CDEs), which then use that authority to attract equity investment from private investors into qualifying low-income community businesses and projects. Investors receive a 39% federal income tax credit claimed over 7 years on their Qualified Equity Investment (QEI) in the CDE. The CDFI Fund manages CDE certification and allocation rounds; the IRS administers the actual tax credit mechanism. End-businesses do not apply to Treasury — they approach certified CDEs for NMTC-enhanced financing. The program is authorized at $5B/year through CY2025; reauthorization has historically been bipartisan and recurring.

Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.