Community Development Financial Institutions Fund July 2005 – Federal Register Recent Federal Regulation Documents

Notice of Allocation Availability (NOAA) Inviting Applications for the CY 2006 Allocation Round of the New Markets Tax Credit Program
Document Number: 05-13591
Type: Notice
Date: 2005-07-15
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
This NOAA is issued in connection with the calendar year 2006 tax credit allocation round of the New Markets Tax Credit (NMTC) Program, as authorized by Title I, subtitle C, section 121 of the Community Renewal Tax Relief Act of 2000 (the Act). Through the NMTC Program, the Community Development Financial Institutions Fund (the Fund) provides authority to CDEs to offer an incentive to investors in the form of a tax credit over seven years, which is expected to stimulate the provision of $15 billion in private investment capital that, in turn, will facilitate economic and community development in Low- Income Communities. In this NOAA, the Fund addresses specifically how an entity may apply to receive an allocation of NMTCs, the competitive procedure through which NMTC Allocations will be made, and the actions that will be taken to ensure that proper allocations are made to appropriate entities.