HR 1321
117th Congress
House
Taxation
Business investment and capital
Economic development
Financial services and investments
Income tax credits
Inflation and prices
New Markets Tax Credit Extension Act of 2021
Introduced: February 25, 2021
Introduced by:
Sewell, Terri A.
Democratic
· Alabama
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 25, 2021
Referred to the House Committee on Ways and Means.
Feb 25, 2021
Introduced in House
Plain-English summary
New Markets Tax Credit Extension Act of 2021
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 2021, and (2) allow an offset against the alternative minimum tax for the credit (determined with respect to qualified equity investments initially made after 2020).
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1