Read twice and referred to the Committee on Finance.
This bill permanently extends the New Markets Tax Credit (NMTC) by removing its statutory expiration and makes the annual allocation amount subject to inflation adjustments after 2025. It also provides alternative minimum tax (AMT) relief for NMTC credits tied to investments made after December 31, 2024, and specifies effective dates beginning after December 31, 2024.
Progressives stress community investment and certainty benefits.
Relative to its intended legislative type, this bill is a focused statutory amendment that clearly targets specific sections of the Internal Revenue Code to make a substantive change (permanent extension and inflation-indexing of the New Markets Tax Credit) and includes necessary effective dates and some conforming edits.
This bill permanently extends the New Markets Tax Credit (NMTC) by removing its statutory expiration and makes the annual allocation amount subject to inflation adjustments after 2025.
It also provides alternative minimum tax (AMT) relief for NMTC credits tied to investments made after December 31, 2024, and specifies effective dates beginning after December 31, 2024.
Technically modest and bipartisan-leaning but creates ongoing revenue cost; most likely to succeed if attached to larger tax/appropriations vehicle.
Relative to its intended legislative type, this bill is a focused statutory amendment that clearly targets specific sections of the Internal Revenue Code to make a substantive change (permanent extension and inflation-indexing of the New Markets Tax Credit) and includes necessary effective dates and some conforming edits.
Progressives stress community investment and certainty benefits.
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives stress community investment and certainty benefits.
Viewed positively as a tool to sustain private investment in low-income communities and remove recurring legislative uncertainty.
Supports inflation indexing and AMT relief as ways to increase capital flowing to underserved areas, though would seek stronger accountability and community safeguards.
Sees the bill as a pragmatic stabilization of a targeted tax incentive that leverages private capital for distressed areas.
Approves predictability and indexing but worries about fiscal cost and possible investor capture; would favor oversight and periodic evaluation.
Skeptical of making a tax credit permanent and indexed, viewing it as expanded federal subsidy and potential corporate welfare.
Might accept if paired with accountability, limited scope, or offsetting fiscal measures, but overall leans opposed.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Technically modest and bipartisan-leaning but creates ongoing revenue cost; most likely to succeed if attached to larger tax/appropriations vehicle.
The bill has not accumulated any surfaced votes yet.
Progressives stress community investment and certainty benefits.
Technically modest and bipartisan-leaning but creates ongoing revenue cost; most likely to succeed if attached to larger tax/appropriations…
Relative to its intended legislative type, this bill is a focused statutory amendment that clearly targets specific sections of the Internal Revenue Code to make a substantive change (permanent extension and inflation-i…
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