The Community Development Financial Institutions (CDFI) Fund announced in September awardees for the calendar year (CY) 2023 round of new markets tax credit (NMTC) allocation, providing $5 billion in allocation authority to 104 community development entities (CDEs). In this week's podcast, Michael Novogradac, CPA, is joined by Novogradac partners Rebecca Darling, CPA, and Brad Elphick, CPA, to talk about the awards and the upcoming combined $10 billion CY 2024-2025 round. They discuss high-level takeaways from the awards, including a record low number of first-time awardees, then look at what CDEs and low-income community businesses should be doing before turning to the timing of the combined round and the need for CDEs to be certified by the CDFI Fund.