The recurring drama of short-term extensions has become all too familiar for New Markets Tax Credit (NMTC) program participants. By the time Congress reauthorized the NMTC program in December 2014, at $3.5 billion for its 2014 round, the Community Development Financial Institutions (CDFI) Fund already had a pool of 263 applicants requesting an aggregate $19.9 billion in NMTC allocation authority.

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This article first appeared in the March 2015 issue of the Novogradac Journal of Tax Credits.

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