118th Congress · HOUSE BILLBILL

H.R. 2539 — New Markets Tax Credit Extension Act of 2023

“To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes.”

Taxation

Introduced Apr 6, 2023

Last action Apr 6, 2023

Pipeline · Bill → Law

Step 1

Introduced

Apr 6, 2023

Step 2

Referred

Apr 6, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill makes the new markets tax credit permanent. It also modifies the credit to (1) provide for an inflation adjustment to the limitation amount for the credit after 2023, and (2) allow an offset against the alternative minimum tax for the credit (determined with respect to qualified equity investments initially made after 2022).

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Apr 6, 2023

Introduced in House

Apr 6, 2023

Referred to the House Committee on Ways and Means.