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S. 750 116th Congress Senate

New Markets Tax Credit Extension Act of 2019

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

Introduced: April 11, 2019 See on congress.gov
Taxation Business investment and capitalEconomic developmentFinancial services and investmentsIncome tax creditsInflation and prices
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 12, 2019
Read twice and referred to the Committee on Finance.
Mar 12, 2019
Introduced in Senate
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 Latest action March 12, 2019

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

New Markets Tax Credit Extension Act of 2019

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 2018, and (2) allow an offset against the alternative minimum tax for the credit (determined with respect to qualified equity investments initially made after 2018).

 Related & companion bills 2
  • HR 1680 Identical bill New Markets Tax Credit Extension Act of 2019
  • S 5011 Economic Empowerment for Underserved Communities Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 26
All 26 Democratic 11 Republican 14
R
Fischer, Deb
Nebraska · Feb 11, 2020
 R
Moran, Jerry
Kansas · Jan 13, 2020
 D
Peters, Gary C.
Michigan · Jan 13, 2020
 R
Cassidy, Bill
Louisiana · Nov 14, 2019
 R
Hoeven, John
North Dakota · Jul 29, 2019
 R
Graham, Lindsey
South Carolina · Jul 15, 2019
 R
Kennedy, John
Louisiana · Jul 10, 2019
 D
Warner, Mark R.
Virginia · Jul 9, 2019
 R
Collins, Susan M.
Maine · Jun 26, 2019
 D
Merkley, Jeff
Oregon · Jun 26, 2019
 D
Bennet, Michael F.
Colorado · Jun 13, 2019
 D
Klobuchar, Amy
Minnesota · Jun 13, 2019
 R
Blackburn, Marsha
Tennessee · Apr 30, 2019
 D
Hassan, Margaret Wood
New Hampshire · Apr 30, 2019
 R
Boozman, John
Arkansas · Apr 11, 2019
 D
Cortez Masto, Catherine
Nevada · Apr 11, 2019
McSally, Martha
· Apr 11, 2019
 D
Murray, Patty
Washington · Apr 11, 2019
 R
Capito, Shelley Moore
West Virginia · Mar 27, 2019
 R
Daines, Steve
Montana · Mar 27, 2019
 R
Hyde-Smith, Cindy
Mississippi · Mar 27, 2019
 D
Smith, Tina
Minnesota · Mar 27, 2019
 R
Wicker, Roger F.
Mississippi · Mar 27, 2019
 D
Cantwell, Maria
Washington · Mar 12, 2019
 D
Schumer, Charles E.
New York · Mar 12, 2019
 R
Scott, Tim
South Carolina · Mar 12, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). S. 750: New Markets Tax Credit Extension Act of 2019. 116th Congress. Open America. https://openamerica.io/bill/116-S-750/
MLA
"S. 750: New Markets Tax Credit Extension Act of 2019." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-750/.
Bluebook (legal)
S. 750, 116th Cong. (2026), https://openamerica.io/bill/116-S-750/.
Markdown link
[S. 750: New Markets Tax Credit Extension Act of 2019](https://openamerica.io/bill/116-S-750/)
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