arrow_back Back to App

Permanent Extension of New Markets Tax Credit and AMT Relief

This act permanently extends the New Markets Tax Credit, which encourages investment in low-income communities. This means businesses investing in these areas will continue to receive tax benefits, potentially leading to job creation and local development. Additionally, it modifies rules for the Alternative Minimum Tax (AMT) for certain investments, which could impact the tax burden for some investors.
Key points
The New Markets Tax Credit, which supports investments in economically distressed areas, is made permanent, providing long-term stability for community development.
The credit amount will be adjusted annually for inflation, ensuring its value is maintained over time.
Changes are introduced to the Alternative Minimum Tax (AMT) rules for certain investments, potentially reducing the tax burden for eligible investors.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_1321
Sponsor: Rep. Sewell, Terri A. [D-AL-7]
Process start date: 2021-02-25
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

New Markets Tax Credit Extension Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1321.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-25.

What are the main provisions?

Key points include:

  • The New Markets Tax Credit, which supports investments in economically distressed areas, is made permanent, providing long-term stability for community development.
  • The credit amount will be adjusted annually for inflation, ensuring its value is maintained over time.
  • Changes are introduced to the Alternative Minimum Tax (AMT) rules for certain investments, potentially reducing the tax burden for eligible investors.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Sewell, Terri A. [D-AL-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Economy Public Investments