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Permanent Extension of New Markets Tax Credit with Inflation Adjustment.

This act permanently extends the New Markets Tax Credit, which encourages investment in economically distressed communities. It also introduces an inflation adjustment mechanism to ensure the credit's value keeps pace with rising costs. These changes aim to stimulate economic growth, create jobs, and provide services in underserved areas.
Key points
The New Markets Tax Credit is made permanent, removing the need for periodic extensions.
The credit amount will be adjusted for inflation, maintaining its real value over time.
Relief from alternative minimum tax for certain qualified equity investments made after 2020.
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Expired
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Additional Information
Print number: 117_S_456
Sponsor: Sen. Cardin, Benjamin L. [D-MD]
Process start date: 2021-02-25
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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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_S_456.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

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 is made permanent, removing the need for periodic extensions.
  • The credit amount will be adjusted for inflation, maintaining its real value over time.
  • Relief from alternative minimum tax for certain qualified equity investments made after 2020.
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. Cardin, Benjamin L. [D-MD].

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 Public Investments