2018 New Markets Tax Credit Public Data Release Source Data: COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND
Principal Investigator(s): View help for Principal Investigator(s) COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND
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Project Citation:
COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND. 2018 New Markets Tax Credit Public Data Release Source Data: COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2025-04-02. https://doi.org/10.3886/E225321V1
Project Description
Project Title:
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2018 New Markets Tax Credit Public Data Release Source Data: COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND
Summary:
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The New Markets Tax Credit Program (NMTC Program) permits taxpayers to receive a credit against Federal income
taxes for making qualified equity investments in designated Community Development Entities (CDEs). Substantially all
of the qualified equity investment (QEI) must in turn be used by the CDE to provide investments in low-income
communities. The credit provided to the investor totals 39 percent of the cost of the investment and is claimed over a
seven-year credit allowance period.
• The CDFI Fund requires all CDEs that have been awarded NMTC allocations (Allocatees) to submit an annual report detailing how they invested QEI proceeds in low-income communities.
• These reports must be submitted to the CDFI Fund by the Allocatees, along with their audited financial statements, within six months after the end of their fiscal year. • All NMTC investments must meet statutory qualifications for their investors to be able to claim the tax credit. • The vast majority of NMTC investments are made within statutorily defined “Low-Income Communities.”
In addition to investments located in Low-Income Communities, investments can qualify for NMTCs by using other statutory provisions designed to target certain areas or populations, including provisions for Rural Counties, and Low-Income Targeted Populations.
The data represented in this summary report and accompanying data file was submitted by Allocatees prior to September 30, 2017. Allocatees must submit their annual report to the CDFI Fund within six months after the end of their fiscal year (FY), therefore the data submitted by September 30, 2017 represents nearly all investments for FY 2016.
• The CDFI Fund requires all CDEs that have been awarded NMTC allocations (Allocatees) to submit an annual report detailing how they invested QEI proceeds in low-income communities.
• These reports must be submitted to the CDFI Fund by the Allocatees, along with their audited financial statements, within six months after the end of their fiscal year. • All NMTC investments must meet statutory qualifications for their investors to be able to claim the tax credit. • The vast majority of NMTC investments are made within statutorily defined “Low-Income Communities.”
In addition to investments located in Low-Income Communities, investments can qualify for NMTCs by using other statutory provisions designed to target certain areas or populations, including provisions for Rural Counties, and Low-Income Targeted Populations.
The data represented in this summary report and accompanying data file was submitted by Allocatees prior to September 30, 2017. Allocatees must submit their annual report to the CDFI Fund within six months after the end of their fiscal year (FY), therefore the data submitted by September 30, 2017 represents nearly all investments for FY 2016.
Funding Sources:
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COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND
Original Distribution URL:
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https://www.cdfifund.gov/sites/cdfi/files/documents/fy-2018-nmtc-public-data-release.xlsx
Scope of Project
Subject Terms:
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Event/transaction data
Geographic Coverage:
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United States
Time Period(s):
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1/1/2003 – 12/31/2016
Universe:
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Community Development Entities that have been awarded New Markets Tax Credit Program allocations.
Data Type(s):
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event/transaction data
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