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.
Status:
Expired
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