Novogradac & Company Llp

The Community Development Financial Institutions (CDFI) Fund announced calendar year 2022 (CY22) new markets tax credit (NMTC) allocation authority awards Sept. 22, marking the 19th round of such allocations and beginning speculation on when the next round's application season will begin. In this week's Tax Credit Tuesday podcast, Michael Novogradac, CPA, and guests Rebecca Darling, CPA, and Brad Elphick, CPA, discuss the takeaways from the CY 2022 awards and what community development entities (CDEs) should be doing now, whether or not they were awardees. They also discuss what low-income community businesses should do to improve their chances of receiving NMTC financing and make informed speculation on when the next round of applications will open. Following that, they discuss the case for NMTC permanence and look at upcoming education and networking opportunities for those in the NMTC world.