The CDFI Fund announced today its plans to award $3.5 billion of Federal New Markets Tax Credit authority for the 2012 round in April of 2013. Earlier in the day President Obama signed the American Taxpayer Relief Act of 2012 which included an extension of the Federal New Markets Tax Credit Program for 2012 and 2013. The New Markets Tax Credit authority is $3.5 billion for each year. In addition the current Senate version of the Hurricane Sandy and National Relief Act of 2012 provides for $500,000,000 of additional annual New Markets Tax Credit authority for National Disaster areas, including areas affected by Hurricane Sandy.