Bill117th CongressFiled Feb 25, 2021Taxation
S. 456
New Markets Tax Credit Extension Act of 2021
Bill journey · stage 2 of 5
Under committee review
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CommitteeComm.
PassedFloor
Both ChambersBoth
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What it doesSummary introduced in senate (Feb 25, 2021)
New Markets Tax Credit Extension Act of 2021
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 2021, and (2) allow an offset against the alternative minimum tax for the credit (determined with respect to qualified equity investments initially made after 2020).
What just happenedFeb 25, 2021
Read twice and referred to the Committee on Finance.
Who’s behind it
Sen. Cardin, Benjamin L. [D-MD](D-MD)Sponsor
25 cosponsors14 D11 R
25cosponsors1committees2actions1related bills5subjects
- Introduced in SenateFeb 25, 2021
- Feb 25, 2021IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Feb 25, 2021IntroReferral10000
Introduced in Senate