Legis Daily

Community Development Investment Tax Credit Act of 2022

USA117th CongressS-4418| Senate 
| Updated: 6/16/2022
Mark R. Warner

Mark R. Warner

Democratic Senator

Virginia

Cosponsors (3)
Cindy Hyde-Smith (Republican)Roger F. Wicker (Republican)Chris Van Hollen (Democratic)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Community Development Investment Tax Credit Act of 2022 This bill allows a new tax credit for investment in Community Development Financial Institutions (CDFIs) to benefit underserved communities. The credit amount is a specified percentage of investment in a CDFI during successive ten year periods. The total credit amount is capped at $1 billion in 2022, $1.5 billion in 2023, and $2 billion in 2024 and each year thereafter, adjusted for inflation.
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Timeline
Jun 16, 2022
Introduced in Senate
Jun 16, 2022
Read twice and referred to the Committee on Finance.
  • June 16, 2022
    Introduced in Senate


  • June 16, 2022
    Read twice and referred to the Committee on Finance.

Taxation

Community Development Investment Tax Credit Act of 2022

USA117th CongressS-4418| Senate 
| Updated: 6/16/2022
Community Development Investment Tax Credit Act of 2022 This bill allows a new tax credit for investment in Community Development Financial Institutions (CDFIs) to benefit underserved communities. The credit amount is a specified percentage of investment in a CDFI during successive ten year periods. The total credit amount is capped at $1 billion in 2022, $1.5 billion in 2023, and $2 billion in 2024 and each year thereafter, adjusted for inflation.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 16, 2022
Introduced in Senate
Jun 16, 2022
Read twice and referred to the Committee on Finance.
  • June 16, 2022
    Introduced in Senate


  • June 16, 2022
    Read twice and referred to the Committee on Finance.
Mark R. Warner

Mark R. Warner

Democratic Senator

Virginia

Cosponsors (3)
Cindy Hyde-Smith (Republican)Roger F. Wicker (Republican)Chris Van Hollen (Democratic)

Finance Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted