New Markets Tax Credit Extension Act of 2023
USA118th CongressS-234| Senate
| Updated: 4/16/2024
Benjamin L. Cardin
Democratic Senator
Maryland
Cosponsors (22)
Jeanne Shaheen (Democratic)Bill Cassidy (Republican)Cindy Hyde-Smith (Republican)Charles E. Schumer (Democratic)Jerry Moran (Republican)Marsha Blackburn (Republican)Mark R. Warner (Democratic)Amy Klobuchar (Democratic)Lindsey Graham (Republican)Roger F. Wicker (Republican)John Boozman (Republican)Robert P. Casey (Democratic)Kyrsten Sinema (Independent)Tim Scott (Republican)Deb Fischer (Republican)Sherrod Brown (Democratic)Maria Cantwell (Democratic)Peter Welch (Democratic)Robert Menendez (Democratic)Pete Ricketts (Republican)Steve Daines (Republican)Mark Kelly (Democratic)
Finance Committee, Housing, Transportation, and Community Development Subcommittee, Banking, Housing, and Urban Affairs Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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).
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
Taxation
Business investment and capitalEconomic developmentFinancial services and investmentsIncome tax creditsInflation and prices
New Markets Tax Credit Extension Act of 2023
USA118th CongressS-234| Senate
| Updated: 4/16/2024
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).
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
Benjamin L. Cardin
Democratic Senator
Maryland
Cosponsors (22)
Jeanne Shaheen (Democratic)Bill Cassidy (Republican)Cindy Hyde-Smith (Republican)Charles E. Schumer (Democratic)Jerry Moran (Republican)Marsha Blackburn (Republican)Mark R. Warner (Democratic)Amy Klobuchar (Democratic)Lindsey Graham (Republican)Roger F. Wicker (Republican)John Boozman (Republican)Robert P. Casey (Democratic)Kyrsten Sinema (Independent)Tim Scott (Republican)Deb Fischer (Republican)Sherrod Brown (Democratic)Maria Cantwell (Democratic)Peter Welch (Democratic)Robert Menendez (Democratic)Pete Ricketts (Republican)Steve Daines (Republican)Mark Kelly (Democratic)
Finance Committee, Housing, Transportation, and Community Development Subcommittee, Banking, Housing, and Urban Affairs Committee
Taxation
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Business investment and capitalEconomic developmentFinancial services and investmentsIncome tax creditsInflation and prices