S. 456 · 117th Congress
New Markets Tax Credit Extension Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CardinSponsor25 cosponsors · 14 D, 11 R
R
Blunt
MC
D
Cantwell
RP
R
Portman
CS
D
Schumer
TS
R
Scott
SC
R
Capito
BC
R
Cassidy
SD
R
Daines
PL
D
Leahy
BM
D
Menendez
JS
D
Shaheen
MB
D
Bennet
BC
D
Casey
MW
D
Warner
JB
R
Boozman
MB
R
Blackburn
CV
D
Van Hollen
CH
R
Hyde-Smith
RW
R
Wicker
JT
D
Tester
CC
D
Cortez Masto
JM
R
Moran
CM
D
Murphy
SB
D
Brown
TB
D
Baldwin5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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 it does: CRS summary · Introduced in Senate · Feb 25, 2021
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).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: New Markets Tax Credit Extension Act of 2021
Latest action (Feb 25, 2021): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Feb 25, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.