CDFI Fund Opens $5 B NMTC Allocation Round for CY 2026

The Community Development Financial Institutions Fund announced the availability of $5 billion of New Markets Tax Credit (NMTC) allocation authority for the calendar year 2026 allocation round, as published in the Federal Register on September 15, 2026. The Fund anticipates issuing up to $100 million in tax credit investment authority per allocatee, though it may adjust amounts at its discretion.

Eligibility is limited to entities certified as Community Development Entities (CDEs) as of the NOAA publication date or that submit a CDE certification application through AMIS by September 22, 2026 at 11:59 p.m. ET. Subsidiary CDEs must also meet the same certification deadline.

Critical deadlines are set in Table 1 of the notice: allocation registration by October 6, 2026 at 5:00 p.m. ET; amendment requests to add or remove subsidiary CDEs by November 3, 2026 at 11:59 p.m. ET; final application with required attachments by November 10, 2026 at 5:00 p.m. ET; and the last day to contact CDFI Fund staff by November 6, 2026 at 5:00 p.m. ET. QEI issuance and Qualified Low-Income Community Investment (QLICI) reporting deadlines are January 7, 2027 and January 14, 2027, respectively.

The notice introduces programmatic changes, including revised prior-year Qualified Equity Investment (QEI) issuance thresholds and a strict certification requirement. Applicants must also adhere to repayment restrictions on QLICI proceeds and undergo a "Do Not Pay" debt check.

Each allocatee must sign an Allocation Agreement countersigned by the Fund before the NMTC allocation becomes effective. The Fund retains discretion to allocate amounts in excess of or less than the anticipated maximum based on its judgment.