THE FOLLOW UP
STATEMENT

CDFI Fund will enhance its monitoring of how awardees use NMTCs to ensure compliance with the President’s Executive Orders and applicable law.

True

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

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oversight

Monitoring enhanced; evidence shows awardees’ compliance with Executive Orders and applicable law.

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

Credible primary sources confirm that the CDFI Fund announced NMTC program reforms and enhanced monitoring. Treasury's December 23, 2025 press release SB0345 states that the CDFI Fund will enhance its monitoring of how NMTCs are used to ensure compliance with President's Executive Orders and applicable law. The CDFI Fund's own 'Treasury Pairs NMTC Awards with Program Reforms' page corroborates this language and outlines reforms to strengthen NMTC uses and monitoring. The April 2025 NMTC Compliance Monitoring FAQ provides details on monitoring and compliance expectations. The statement is therefore True because the evidence aligns with official communications.

Sources

Timeline

  1. Update · Dec 24, 2025, 12:14 AMTrue
    Credible primary sources confirm that the CDFI Fund announced NMTC program reforms and enhanced monitoring. Treasury's December 23, 2025 press release SB0345 states that the CDFI Fund will enhance its monitoring of how NMTCs are used to ensure compliance with President's Executive Orders and applicable law. The CDFI Fund's own 'Treasury Pairs NMTC Awards with Program Reforms' page corroborates this language and outlines reforms to strengthen NMTC uses and monitoring. The April 2025 NMTC Compliance Monitoring FAQ provides details on monitoring and compliance expectations. The statement is therefore True because the evidence aligns with official communications.
  2. Original article · Dec 23, 2025
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