Illinois New Markets Development Program

 

 

New Markets Development Program applications are closed at this time.
Program Update November 13, 2019
The Department issued $81,256,702 of QEI in the March 29th, 2019 round ($31,690,114 in tax credits). The Department accepted online applications for the second allocation round of 2019 from September 26, 2019 until October 25, 2019. The allocation available for the second round was $43,743,298 of QEI ($17,059,886 in tax credits). Pre-certification notifications were sent to eligible CDEs on October 22, 2019. A list of CDEs pre-certified for the second round is available below in the program documents.

Program Documents and Additional Information 

 

Current Program Participants

Each qualified community development entity shall submit an annual report to the Department within 45 days after the beginning of each calendar year during the compliance period. The next compliance period will be January 1, 2020 to February 14, 2020.  The annual report will be reviewed to verify investments to receive the tax credit and the program will issue the tax credit certificates. The online reporting will improve DCEOs data collection and management so the program can accurately detail the great projects accomplished because of the New Markets Development Program. The online annual report will be posted on this website on January 1, 2020. The information required to complete the annual report will remain unchanged from previous reports. A previous version of the annual report is listed below for reference. If you have any questions please reach out to ceo.newmarkets@illinois.gov 

 

for reference only - NMTC Annual Report February 7 2019 - for reference only 

 

Please direct all Illinois New Market Development Program Inquiries to ceo.newmarkets@illinois.gov