The CDFI Fund has released application demand for the 2015 New Markets Tax Credit Program (NMTC program). The CDFI Fund received a total of 238 applications requesting an aggregate total of $17.6 billion in NMTC allocation authority, five times the $3.5 billion in authority available for the 2015 round. The applicants are headquartered in 43 states, the District of Columbia, Puerto Rico and Guam. The NMTC Program encourages economic development in low-income and distressed communities by making tax credits available to Community Development Entities (CDEs) for targeted investments in eligible areas. Through the first twelve rounds of the NMTC Program, the CDFI Fund has made 912 awards totaling $43.5 billion in tax credit allocation authority.