The CDFI Fund will award $7 billion of New Markets Tax Credit allocation in the next round to be announced by the end of 2016. As a result of the 5 year extension of the New Markets Tax Credit the CDFI Fund has elected to combine two $3.5 billion allocation rounds to create a historic $7 billion allocation of New Markets Tax Credit allocation. The round of awards to be announced by the CDFI Fund later this year will be effected by the December 2015 Certification, Compliance, Monitoring and Evaluation Frequently asked Questions issued by the CDFI Fund last year. Frequently Asked Question 44 eliminates the commonly used “one day loan” for this and future rounds of New Markets Tax Credit allocation awards.