Permanent Tax Credits for New Market Investments
This bill aims to permanently extend the New Markets Tax Credit, which can support economic development in less affluent areas. This means businesses investing in these regions can rely on ongoing tax benefits, potentially leading to new job creation and improved infrastructure. Additionally, the credit will be adjusted for inflation, and changes related to the alternative minimum tax have been introduced.
Key points
The New Markets Tax Credit becomes permanent, rather than requiring periodic extensions.
The credit amount will be automatically adjusted for inflation, preserving its value over time.
Changes are introduced to the alternative minimum tax rules, potentially affecting some businesses' tax calculations.
Introduced
Citizen Poll