H.R. 8965 · 116th Congress
New Markets Stabilization Act
- Stage
- In committee
- Sponsor
- Terri Sewell
- Introduced
- 2020-12-14
- Latest action
- 2020-12-14 · Introduced in House
Summary
New Markets Stabilization Act
This bill modifies provisions of the new markets tax credit (NMTC). Specifically, it increases and extends the NMTC limitation through 2022 and allows a carryback of the credit for five years. The bill also exempts the NMTC from the 75% general business credit limitation, revises debt modification rules for NMTC issuers and borrowers, and permanently exempts the NMTC from the alternative minimum tax.