About Maine New Markets Capital Investment Program
The State of Maine has replenished funding in its New Market Tax Credit Program. Maine NMTC stimulates economic growth and community development in low-income areas by attracting private investment through tax incentives.
Up to $250,000,000 of qualified equity investments is available for allocation to eligible Community Development Entities (CDEs) through this program. This program is funded in cooperation with Maine Revenue Services. Administered by FAME.
Program Update – Timeline
December 10, 2025: Rules published
December 10, 2025: FAME posts Allocation Application on its website
January 7, 2026: FAME officially begins accepting Allocation Applications
January 30, 2026: FAME anticipates making preliminary allocation awards
Program Guidelines
Rules
Public Notice
Eligibility
In order to be eligible to participate in the program, a CDE must be certified as a qualified Community Development Entity by the secretary of the United States Treasury. In addition, the CDE must either: (a) be a “Maine Fund” (defined below), or (b) meet the following requirements: (i) be a party to an existing allocation agreement with the Department of the Treasury’s Community Development Financial Institution (CDFI) Fund that is in effect and not subject to revocation or cancellation; (ii) the allocation agreement must have Maine in its service area, and (iii) must be able to answer four of the following five questions affirmatively:
- Has the CDFI Fund been awarded multiple rounds of federal New Markets Tax Credit allocation to the CDE, its controlling entity or other entity controlled by the same controlling entity?
- Has the CDE, its controlling entity or other entity controlled by the same controlling entity, participated as a qualified community development entity in a state New Markets Tax Credit program or made an investment in this state that qualifies for federal New Markets Tax Credits?
- Has the CDE, its controlling entity or other entity controlled by the same controlling entity, made an investment qualified for tax credits in a business located in a nonmetropolitan census tract?
- Has the CDE, its controlling entity or other entity controlled by the same controlling entity, made an investment qualified for tax credits in a state where it did not previously have substantial operations?
- Has the CDE, its controlling entity or other entity controlled by the same controlling entity, explored potential investment opportunities in Maine that would qualify for credits under the program?
A Maine Fund is a CDE that has had a principal place of business operations in Maine for at least sixty (60) months prior to the application date.
Basic Terms
- A CDE may seek an allocation of tax credit authority, reserving tax credit eligibility for later qualified equity investments, by filing an allocation application with FAME.
- An approved allocation of tax credit authority shall be valid for up to one year (for credit authority originally awarded after January 1, 2026) or two years (for credit authority originally issued prior to January 1, 2026).
- Upon receipt of qualified equity investments under the approved allocation, and reinvestment in a qualified active low-income community business for use in a low-income community in the state, the CDE must file a certification application with FAME providing the details of the transaction.
- FAME will review the certification application to determine if the qualified equity investment is eligible for program tax credits, and if approved, provide notice to the CDE and to Maine Revenue Services of the persons eligible for credits and the amount thereof. Maximum eligible investment per qualified active low-income community business is $40,000,000 for manufacturing or value-added production enterprises with 200 or more employees, or $10,000,000 for other enterprises.
- Eligible tax credit recipients may receive refundable state income tax credits of up to 39% of their eligible investment, which may be taken in increments over seven years (0%, 0%, 7%, 8%, 8%, 8%, 8%).
Reporting Requirements
A CDE that has been awarded tax credit allocation authority must file an annual report with FAME. See rules for reporting requirements.
Recapture
If a CDE violates the Rule or provisions of relevant statutes, the tax credits may be subject to recapture pursuant to 36 MRSA Section 5219-HH.
Application Download
Maine New Markets Capital Investment Program Application
Contact
For additional information, please contact FAME at support@FAMEmaine.com.
Allocatee Contact List (Reallocation)
Below are the NMTC allocatees. The certification application form for obtaining credits for specific project investments will be available soon. For any inquiries, please email support@FAMEmaine.com.
| Allocatee | Contact | |
|---|---|---|
| Advantage Capital 909 Poydras Street, Suite 2230 New Orleans, LA 70112 | Michael Johnson | mjohnson@advantagecap.com |
| American Community Renewable Energy Fund, LLC 2525 Jena Street New Orleans, LA 70115 | Knox Clark | knox@amcref.com |
| Arctaris Impact Investors 20 William Street, Suite 200 Wellesley, MA 02481 | Jonathan Tower | jonathan@arctaris.com |
| Brownfield Revitalization 310 S. West Street, Suite 2000 Raleigh, NC 27603 | John Mazzarino | jmazzarino@cherokeefund.com |
| The Community Development Venture Capital Alliance 475 Riverside Dr, Suite 1264 New York, NY 10115 | Alexandria Harris | aharris@cdcva.org |
| CEI Capital Management, LLC 30 Federal Street, Suite 2000 Brunswick, ME 04011 | Traci Vaine | traci.vaine@ceicapitalmgmt.com |
| Central States Development Partners 100 19th Street, Suite 109 Rick Island, IL 61201 | Brian Hollenback | bhollenback@growthcorp.org |
| Cityscape Capital Group 116 Village Boulevard, Suite 2000 Princeton, NJ 08540-5700 | Paul M Hoffman | paul@cityscapecapital.com |
| Community Business Investment Fund (Baker Tilly Advisory Group Check) 205 N Michigan Ave, Suite 2800 Chicago, IL 60601 | Jason M Penn | jpenn@valuedadvisorfund.com |
| Consortium America 888 16th Street N, Suite 555 Washington, DC 20006 | Campbell Smith | csmith6@trammellcrow.com |
| Enhanced Community Development LLC 201 St. Charles Ave, Suite 3400 New Orleans, LA 70170 | Richard Montgomery | rmontgomery@enhancedcapital.com |
| Evernorth 100 Bank St, Suite 400 Burlington, VT 05401 | Beth Boutin | bboutin@evernorthus.org |
| Five Points Community Capital 8911 North Capital of Texas HWY, Suite 4200-111 Austin, TX 78759-7439 | Michael Ross | michael.ross@fivepointscdfi.com |
| Lower Brule Community Development Enterprise 11710 Plaza America Dr, Suite 2000 Reston, VA 20190 | Joseph Falkson | jfalkson@nativeamericancapital.com |
| MHIC NE New Markets CDE II LLC 21 Custom House Street, 8th FL Boston, MA 02110 | Naomi Baruch | baruch@mhic.com |
| Mid City Community 7735 Old Georgetown Rd, Suite 600 Bethesda, MD 20814 | Kelli Brooks | kbrooks@urban-atlantic.com |
| Midwest Renewable Capital 1220 NE Station Crossing, Suite 210 Grimes, IA 50111 | Scott Mikkelsen | scott.mikkelsen@mwrcap.com |
| National Impact Fund 701 Lake Street East, Suite 350 Wayzata, MN 55391 | Danny Zouber | dzouber@northskycapital.com |
| Pacesetter CDE Inc. 800 Turnpike Street, Suite 300 North Andover, MA 01845 | Chip Windisch | chip@coreimpactpartners.com |
| Petros Community Impact Fund 13501 Galleria Circle, Suite W-270 Bee Cave, TX 78738 | Chip Windisch | chip@coreimpactpartners.com |
| River Gorge Capital PO Box 781 Chattanooga, TN 37401 | Monica Blanton | mblanton@brightbridgeinc.org |
| Stonehenge Community Development 191 W Nationwide BLVD, Suite 600 Columbus, OH 43215 | L’Quentus Thomas | lthomas@stonehengecapital.com |
| Urban Action Community Development LLC 2101 E Biddle Street, Suite 1201 Baltimore, MD 21213 | Joe Summers | jsummers@crossstpartners.com |
| USBCDE, LLC 505 North Seventh St St. Louis, MO 63101 | Laura Vowell | laura.vowell@usbank.com |
