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 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.