The form of 2012 New Markets Tax Credit Allocation Agreement has
been released by the Community Development Financial Institutions
(CDFI) Fund. Notably the form allocation agreement has two
significant changes. First, the Allocation Agreement provides the
following definition of a Real Estate Qualified Active Low-Income
Community Business: "shall mean any QALICB whose predominant
business activity (i.e. activity that generates more than 50
percent of the business' gross income) includes the development
(including construction of new facilities and
rehabilitation/enhancement of existing facilities), management, or
leasing of real estate." In addition, the form of 2012
Allocation Agreement has the following disclosure requirement.
"Disclosure to QALICBs. Each time the Allocatee makes one or
more QLICs in the form of a loan(s) to, or investment(s) in, a
QALICB, it shall disclose to the QALICB, in a separate stand-alone
document, any and all direct and indirect NMTC
