S 234
118th Congress
Senate
Taxation
Business investment and capital
Economic development
Financial services and investments
Income tax credits
Inflation and prices
New Markets Tax Credit Extension Act of 2023
Introduced: February 2, 2023
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 16, 2024
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held. With printed Hearing: S.Hrg. 118-555.
Feb 2, 2023
Read twice and referred to the Committee on Finance.
Feb 2, 2023
Introduced in Senate
Plain-English summary
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).
What's happening now
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held. With printed Hearing: S.Hrg. 118-555.