S. 234 · 118th Congress
New Markets Tax Credit Extension Act of 2023
- Stage
- In committee
- Sponsor
- Benjamin Cardin
- Introduced
- 2023-02-02
- Latest action
- 2024-04-16 · Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
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).