Department of the Treasury — CDFI Fund · Economic Development · Housing · Public Facilities
New Markets Tax Credit (NMTC)
Tax credit to investors making qualifying equity investments in Community Development Entities (CDEs) that lend or invest in low-income community businesses, real estate, and community facilities. Cities partner with allocatee CDEs.
Program facts
- Typical award
- $1M – $50M
- Non-federal match
- Varies by NOFO
- Audience
- Cities, towns, counties, and tribal governments
- Application window
- Annual NMTC allocation round; project-level deployment continuous.
- Typical prep time
- 12–36 weeks
- Statutory authority
- IRC §45D
Catalog entry last verified 2026-05-24 · Verify on the agency page →
Eligibility at a glance
- Cities are eligible applicants.
Not a grant; city-led projects access NMTC by partnering with a CDE allocatee. Amounts and timing approximate; verify directly with administering agency.
How Strategic Pursuit scores this program
When you run a city dossier, Strategic Pursuit cross-checks the city's demographics, federal award history, disaster history, and CEJST burden categories against this program's eligibility and strategic-fit signals. You see an explicit eligibility / strategic / competitive grade — backed by source citations — instead of a generic "match" badge.
Planning purposes only. Award ranges, match percentages, and application windows on this page summarize the latest publicly available agency guidance and are approximate. Always verify the binding NOFO on the administering agency's page before applying.