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Tax Credit for Investing in Community Development

This bill creates a new tax credit for people and companies who invest in organizations that support development in underserved communities. The goal is to encourage more funding for projects like affordable housing, small businesses, and community facilities by offering investors a tax break over several years.
Key points
Investors in approved community development organizations can get a yearly tax credit.
The credit amount is a percentage of the investment, paid out over up to 20 years.
There's a national limit on the total amount of investments eligible for the credit each year.
This aims to bring more money into areas needing economic support.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_4418
Sponsor: Sen. Warner, Mark R. [D-VA]
Process start date: 2022-06-16
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Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Community Development Investment Tax Credit Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4418.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-06-16.

What are the main provisions?

Key points include:

  • Investors in approved community development organizations can get a yearly tax credit.
  • The credit amount is a percentage of the investment, paid out over up to 20 years.
  • There's a national limit on the total amount of investments eligible for the credit each year.
  • This aims to bring more money into areas needing economic support.
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 Sen. Warner, Mark R. [D-VA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Economy