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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: November 14, 2023 See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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 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
Introduced in Senate
Feb 2, 2023
Read twice and referred to the Committee on Finance.
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 Plain-English summary Congressional Research Service

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 April 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.

 Related & companion bills 1
  • HR 2539 Identical bill New Markets Tax Credit Extension Act of 2023
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Lobbying activity 5

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

 Cosponsors 19
All 19 Democratic 7 Republican 11
R
Ricketts, Pete
Nebraska · Jun 12, 2024
 D
Kelly, Mark
Arizona · Dec 19, 2023
Sinema, Kyrsten
· Nov 28, 2023
 R
Fischer, Deb
Nebraska · Nov 14, 2023
 R
Graham, Lindsey
South Carolina · Jul 27, 2023
 R
Moran, Jerry
Kansas · May 2, 2023
 D
Welch, Peter
Vermont · May 2, 2023
 R
Boozman, John
Arkansas · Apr 25, 2023
 D
Klobuchar, Amy
Minnesota · Apr 25, 2023
 R
Hyde-Smith, Cindy
Mississippi · Feb 16, 2023
 D
Shaheen, Jeanne
New Hampshire · Feb 16, 2023
 D
Warner, Mark R.
Virginia · Feb 16, 2023
 R
Wicker, Roger F.
Mississippi · Feb 16, 2023
 R
Blackburn, Marsha
Tennessee · Feb 2, 2023
 D
Cantwell, Maria
Washington · Feb 2, 2023
 R
Cassidy, Bill
Louisiana · Feb 2, 2023
 R
Daines, Steve
Montana · Feb 2, 2023
 D
Schumer, Charles E.
New York · Feb 2, 2023
 R
Scott, Tim
South Carolina · Feb 2, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 234: New Markets Tax Credit Extension Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-S-234/
MLA
"S. 234: New Markets Tax Credit Extension Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-234/.
Bluebook (legal)
S. 234, 118th Cong. (2026), https://openamerica.io/bill/118-S-234/.
Markdown link
[S. 234: New Markets Tax Credit Extension Act of 2023](https://openamerica.io/bill/118-S-234/)
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