Referred to the House Committee on Ways and Means.
The bill permanently extends the New Markets Tax Credit (NMTC) by changing Internal Revenue Code section 45D to make the credit available for calendar year 2020 and each year thereafter. It adds an inflation adjustment to the annual allocation amount for years after 2025, with rounding rules.
Progressives stress community benefits and need for stronger standards.
Relative to its intended legislative type, this bill is a direct and concrete statutory amendment to the Internal Revenue Code that accomplishes its primary objective by specifying precise code changes and effective dates.
The bill permanently extends the New Markets Tax Credit (NMTC) by changing Internal Revenue Code section 45D to make the credit available for calendar year 2020 and each year thereafter.
It adds an inflation adjustment to the annual allocation amount for years after 2025, with rounding rules.
The bill also provides alternative minimum tax (AMT) relief for NMTC credits claimed on qualified equity investments initially made after December 31, 2024.
Technocratic, bipartisan-leaning extension of an existing program improves prospects, but permanent indexing and revenue cost reduce chances absent offsets or broader package.
Relative to its intended legislative type, this bill is a direct and concrete statutory amendment to the Internal Revenue Code that accomplishes its primary objective by specifying precise code changes and effective dates. It is reasonably specific about the legal mechanics of extension, indexing, and AMT interaction.
Progressives stress community benefits and need for stronger standards.
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives stress community benefits and need for stronger standards.
Generally supportive: a permanent, indexed NMTC reduces investor uncertainty and can channel capital into low-income communities.
Concern would remain about strong targeting, oversight, and standards to ensure benefits reach residents and workers.
Cautiously favorable: permanence and inflation indexing reduce uncertainty and may improve program efficiency, but fiscal cost and accountability need clearer safeguards and periodic review.
Skeptical: extending and indexing a tax expenditure entrenches a government subsidy that reduces revenues.
Some Republicans may favor private investment into distressed areas but oppose permanent tax spending without stronger accountability or offsets.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Technocratic, bipartisan-leaning extension of an existing program improves prospects, but permanent indexing and revenue cost reduce chances absent offsets or broader package.
The bill has not accumulated any surfaced votes yet.
Progressives stress community benefits and need for stronger standards.
Technocratic, bipartisan-leaning extension of an existing program improves prospects, but permanent indexing and revenue cost reduce chance…
Relative to its intended legislative type, this bill is a direct and concrete statutory amendment to the Internal Revenue Code that accomplishes its primary objective by specifying precise code changes and effective dat…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.