CDFI Fund Seeks Comments on Designation of 'Targeted Populations' For New Markets Tax Credits

摘要

The Community Development Financial Institutions (CDFI) Fund published an advance notice of proposed rulemaking (ANPR) in the May 24 Federal Register seeking comments on the designation of "targeted populations" for the New Markets tax credit (NMTC) program. The jobs creation tax bill (H.R. 4520) enacted by Congress in October 2004 modified the definition of low- income communities where NMTCs can be used to include targeted populations, which are defined as individuals or groups, including Indian tribes, who are low income or otherwise lacking adequate access to loans or equity investments. (For background, see Current Developments, Vol. 32, No. CD-21, p. 643.) The amendment applies to designations made after October 22, 2004.