Bill117th CongressFiled Jun 16, 2022Taxation
S. 4418
Community Development Investment Tax Credit Act of 2022
Bill journey · stage 2 of 5
Under committee review
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What it doesSummary introduced in senate (Jun 16, 2022)
Community Development Investment Tax Credit Act of 2022
This bill allows a new tax credit for investment in Community Development Financial Institutions (CDFIs) to benefit underserved communities. The credit amount is a specified percentage of investment in a CDFI during successive ten year periods. The total credit amount is capped at $1 billion in 2022, $1.5 billion in 2023, and $2 billion in 2024 and each year thereafter, adjusted for inflation.
What just happenedJun 16, 2022
Read twice and referred to the Committee on Finance.
Who’s behind it
Sen. Warner, Mark R. [D-VA](D-VA)Sponsor
3 cosponsors1 D2 R
3cosponsors1committees2actions
- Introduced in SenateJun 16, 2022
- Jun 16, 2022IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Jun 16, 2022IntroReferral10000
Introduced in Senate