NMTC awards have been announced for a double round covering 2024 and 2025.

True

Evidence from credible sources supports the statement as accurate. Learn more in Methodology.

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oversight

NMTC awards announced today are issued to recipients under the double-round schedule and the reforms are implemented.

Source summary

The U.S. Treasury announced New Markets Tax Credit (NMTC) awards in a double round covering 2024 and 2025 and unveiled reforms to refocus the program on community revitalization and compliance with federal anti-discrimination laws. The CDFI Fund will modify NMTC allocation agreements, increase monitoring of awardees, and may use remedies up to decertification, termination of unused credits, and recapture of awards for noncompliance. The allocations include a reported 20% increase in investments in rural and non-metro communities, and Treasury signaled future emphasis on affordable housing, small business growth, domestic manufacturing, and rural health infrastructure.

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Latest fact check

Treasury’s December 23, 2025 press release states that NMTC awards are a double round covering 2024 and 2025. The CDFI Fund confirms a combined CY 2024-2025 NMTC round with $10 billion in allocation authority and references the double-round structure. Additional NMTC program materials from the CDFI Fund describe the CY 2024-2025 round and related processes. Verdict: True—the available primary sources confirm a double-round NMTC allocation spanning 2024 and 2025.

Sources

Timeline

Update · Dec 23, 2025, 11:21 PMTrue
Treasury’s December 23, 2025 press release states that NMTC awards are a double round covering 2024 and 2025. The CDFI Fund confirms a combined CY 2024-2025 NMTC round with $10 billion in allocation authority and references the double-round structure. Additional NMTC program materials from the CDFI Fund describe the CY 2024-2025 round and related processes. Verdict: True—the available primary sources confirm a double-round NMTC allocation spanning 2024 and 2025.
Original article · Dec 23, 2025
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