A bill to amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes.

United States115th CongressS-384Senate
Updated: Feb 15, 2017

Summary

New Markets Tax Credit Extension Act of 201 7 This bill amends the Internal Revenue Code to: (1) make permanent the new markets tax credit, (2) provide for an inflation adjustment to the limitation amount for such credit after 2016, and (3) allow an offset against the alternative minimum tax for such credit (determined with respect to qualified equity investments initially made after 2016).

Bill texts

Available versions
Introduced (Senate)View official text

1 version available

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Timeline

Latest companion bill action

HR-1098: To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes.

ASSUMING FIRST SPONSORSHIP - Mr. Reed asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 1098, a bill originally introduced by Representative Tiberi, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.

  1. Read twice and referred to the Committee on Finance.

    Senate

  2. Introduced in Senate

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