Background
On September 15, 2026, the Community Development Financial Institutions (CDFI) Fund announced the opening of the 2026 New Markets Tax Credit (NMTC) Program Application or the Notice of Allocation Authority. Through this notice, the CDFI Fund announces the availability of $5 billion of NMTC allocation authority in this allocation round.
The NMTC Program, established by Congress in December 2000, permits individual and corporate taxpayers to receive a non-refundable tax credit against federal income taxes for making equity investments in financial intermediaries known as community development entities (CDEs). According to the U.S. Department of the Treasury, “CDEs that receive the tax credit allocation authority under the program are domestic corporations or partnerships that provide loans, investments, or financial counseling in low-income urban and rural communities. The tax credit provided to the investor totals 39% of the cost of the investment and is claimed over a seven-year period. The CDEs in turn use the capital raised to make investments in low-income communities. CDEs must apply annually to the CDFI Fund to compete for NMTC Program allocation authority.”
Action Items and Important Dates
- Application Window Open: September 15, 2026
- Application Window Close: November 10, 2026
How Forvis Mazars Can Help
For more information about the Forvis Mazars NMTC team and our services, contact us or visit our New Markets Tax Credit webpage. For assistance with the application process, the Forvis Mazars NMTC Team would need information by October 15, 2026.