DCEO will begin accepting applications for the New Markets Development Program tax credits beginning on October 7, 2020 via
this electronic form. It is anticipated that all credits will be allocated to CDEs that apply on October 7, 2020. NOTE: Submissions will not be accepted until 9:00am on October 7, 2020.
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 is 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. Please find the report template here(attached pdf). If you have any questions please reach out to ceo.newmarkets@illinois.gov.
Please direct all Illinois New Market Development Program Inquiries to
ceo.newmarkets@illinois.gov.