‘We Had No Idea How Much to Ask For’: Twenty Years Later, Memories of First NMTC Allocations

NOVOGRADAC

Tuesday, October 3, 2023

A brief history of the early days of the New Markets Tax Credit:

"In early 2003, Bob Rapoza got a call from the Treasury Department.
The first round of new markets tax credit (NMTC) allocations–$2.5 billion worth–would soon be announced by the Community Development Financial Institutions (CDFI) Fund and Rapoza was head of the fledgling New Markets Tax Credit Coalition (NMTCC)."

‘We Had No Idea How Much to Ask For’: Twenty Years Later, Memories of First NMTC Allocations

Community Development Bankers Association