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    Subject Term: "Public funds"

    1 publication with a total of 1 open recommendation including 1 priority recommendation
    Director: Mctigue Jr, James R
    Phone: (202) 512-7968

    1 open recommendations
    including 1 priority recommendation
    Recommendation: The Secretary of the Treasury should issue guidance on how funding or assistance from other government programs can be combined with the NMTC including the extent to which other government funds can be used to leverage the NMTC by being included in the qualified equity investment.

    Agency: Department of the Treasury
    Status: Open
    Priority recommendation

    Comments: The Community Development Financial Institutions Fund (CDFI Fund), which administers the NMTC program, completed new empirical research assessing the extent to which other government programs are being combined with the NMTC. The findings of this research (issued in August 2017) indicate that some NMTC projects, especially those using other government funds to leverage the NMTC, potentially received more government funds than needed to close a financing gap. To help the Community Development Entities (CDEs) identify projects that may be receiving more government funding than necessary, the CDFI Fund developed a plan in the fall of 2017 to use findings and methods from the research study to create new analysis tools for use by the CDEs.