New Markets Tax Credit Extension Act of 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).
Budget & TaxesSupports Budget & TaxesExtends permanent tax credit for investments in low-income communities, maintaining a tax incentive program that directs capital toward underserved areas.
HousingSupports HousingExtends permanent tax credit for low-income community development, directly funding affordable housing projects through qualified equity investments in distressed areas.
In committee Feb 25, 2021
1 co-sponsor