CDFI Fund Implements Transition to 2010 Census Data

The Community Development Financial Institutions Fund (“CDFI Fund”) has completed the first stage of its transition to the new census data for eligibility under the Federal New Markets Tax Credit Program. The CDFI Fund has adopted a transition process which recognizes that community development entities may have already begun to structure potential “qualified low-income community investments” based on the 2000 census data. The CDFI Fund has announced that it will allow New Markets Tax Credit community development entities to use either the 2000 census data or the 2006-2010 ACS data applied for the 2010 census tracts to qualify for “qualified low-income community investments” closed between May 1, 2012 and June 30, 2012.

© 2009- Duane Morris LLP. Duane Morris is a registered service mark of Duane Morris LLP.

The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

Proudly powered by WordPress