S. 234 · 118th Congress · Senate

New Markets Tax Credit Extension Act of 2023

Active· Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
Introduced
Feb 2, 23
Passed Senate
Pending
Passed House
Pending
Sent to President
Pending
Signed into Law
Pending

Executive Summary

New Markets Tax Credit Extension Act of 2023

This bill makes the new markets tax credit permanent. It also modifies the credit to (1) provide for an inflation adjustment to the limitation amount for the credit after 2023, and (2) allow an offset against the alternative minimum tax for the credit (determined with respect to qualified equity investments initially made after 2022).

Action Timeline

3
  1. APR 16, 2024Committee

    Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.

  2. FEB 02, 2023IntroReferral

    Introduced in Senate

  3. FEB 02, 2023IntroReferral

    Read twice and referred to the Committee on Finance.

Committees

2

Housing, Transportation, and Community Development Subcommittee

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Referred: Apr 16, 2024

Active

Finance Committee

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Referred: Feb 2, 2023

Active