Bill116th CongressFiled Dec 14, 2020Taxation
H.R. 8965
New Markets Stabilization Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Dec 14, 2020)
New Markets Stabilization Act
This bill modifies provisions of the new markets tax credit (NMTC). Specifically, it increases and extends the NMTC limitation through 2022 and allows a carryback of the credit for five years. The bill also exempts the NMTC from the 75% general business credit limitation, revises debt modification rules for NMTC issuers and borrowers, and permanently exempts the NMTC from the alternative minimum tax.
What just happenedDec 14, 2020
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Sewell, Terri A. [D-AL-7](D-AL)Sponsor
1 cosponsor1 R
1cosponsors1committees3actions6subjects
- Introduced in HouseDec 14, 2020
- Dec 14, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Dec 14, 2020IntroReferralIntro-H
Introduced in House
- Dec 14, 2020IntroReferral1000
Introduced in House