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      "title": "New Markets Tax Credit: An Introduction",
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      "title": "New Markets Tax Credit: An Introduction",
      "summary": "The New Markets Tax Credit (NMTC) is a nonrefundable tax credit intended to encourage private capital investment in eligible, impoverished, low-income communities. NMTCs are allocated by the Community Development Financial Institutions Fund (CDFI), a bureau within the U.S. Department of the Treasury, under a competitive application process. Investors who make qualified equity investments reduce their federal income tax liability by claiming the credit. The NMTC program, enacted in 2000, is currently authorized to allocate $61 billion through the end of 2019. As of May 23, 2019, the CDFI has made 1,178 awards totaling $57.5 billion in NMTC allocation authority. Demand for NMTC allocations has exceeded total allocations each award round\u2014with the 2018 allocation round awarding $3.5 billion in allocation authority from applications requesting approximately $14.8 billion in NMTCs.\nThe most recent program extension was made in the 114th Congress. The Protecting Americans from Tax Hikes (PATH) Act (Division Q of P.L. 114-113) extended the NMTC authorization through 2019 at $3.5 billion per year.\nThis report will be updated as warranted by legislative changes.",
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      "date": "2016-08-31",
      "retrieved": "2016-09-09T18:34:15.214269",
      "title": "New Markets Tax Credit: An Introduction",
      "summary": "The New Markets Tax Credit (NMTC) is a non-refundable tax credit intended to encourage private capital investment in eligible, impoverished, low-income communities. NMTCs are allocated by the Community Development Financial Institutions Fund (CDFI), a bureau within the United States Department of the Treasury, under a competitive application process. Investors who make qualified equity investments reduce their federal income tax liability by claiming the credit. The NMTC program, enacted in 2000, is currently authorized to allocate $61 billion through the end of 2019. To date, the CDFI has made 912 awards totaling $43.5 billion in NMTC allocation authority. Demand for NMTC allocations has exceeded total allocations each award round\u2014with the 2014 allocation round awarding $3.5 billion in allocation authority from applications requesting approximately $19.9 billion in NMTCs.\nThe most recent program extension was made in the 114th Congress. The Protecting Americans from Tax Hikes (PATH) Act (Division Q of P.L. 114-113) extended the NMTC authorization through 2019 at $3.5 billion per year.\nThis report will be updated as warranted by legislative changes.",
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    {
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      "id": 415758,
      "date": "2013-01-10",
      "retrieved": "2016-04-06T21:29:30.832783",
      "title": "New Markets Tax Credit: An Introduction",
      "summary": "The New Markets Tax Credit (NMTC) is a non-refundable tax credit intended to encourage private capital investment in eligible, impoverished, low-income communities. NMTCs are allocated by the Community Development Financial Institutions Fund (CDFI), a bureau within the United States Department of the Treasury, under a competitive application process. Investors who make qualified equity investments reduce their federal income tax liability by claiming the credit. The NMTC program, enacted in 2000, is currently authorized to allocate $33 billion through the end of 2011. To date, the CDFI has exhausted 664 awards totaling $33 billion in NMTC allocation authority. In spite of this, demand for allocations remains strong. For the 2012 NMTC round, requests of nearly $22 billion were made, though any awards are subject to congressional action extending or reauthorizing the program.\nThe most recent program extensions were made in the 111th and 112th Congresses. The American Recovery and Reinvestment Tax Act of 2009, P.L. 111-5, increased the NMTC allocation for 2008 and 2009 to $5 billion from $3.5 billion. Further, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (P.L. 111-312) extended the NMTC authorization through 2011 at $3.5 billion per year. Most recently, the American Taxpayer Relief Act of 2012 (P.L. 112-240) extended the NMTC authorization for 2012 and 2013 at $3.5 billion per year.\nThis report will be updated as warranted by legislative changes.",
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      "id": "RL34402_2012Dec20",
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      "id": "RL34402_2008Oct17",
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      "id": "RL34402_2008Mar03",
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