S 234 · 118th Congress · Taxation
New Markets Tax Credit Extension Act of 2023
Bill Progress
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Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.(2024-04-16)
Plain Language Summary
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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).…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (20)
9 Democrats10 Republicans1 Independent