summary
Introduced
04/06/2023
04/06/2023
In Committee
04/06/2023
04/06/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes.
AI Summary
This bill, the New Markets Tax Credit Extension Act of 2023, aims to permanently extend the New Markets Tax Credit (NMTC) program, which provides tax credits to incentivize investment in low-income communities. The bill would remove the current expiration date for the NMTC, making it a permanent feature of the tax code. It also includes an inflation adjustment to the credit amount and provides alternative minimum tax relief for credits claimed on investments made after 2022. Overall, the bill seeks to make the NMTC a long-term tool for encouraging economic development in underserved areas.
Committee Categories
Budget and Finance
Sponsors (125)
Claudia Tenney (R)*,
Don Bacon (R),
Jim Baird (R),
Troy Balderson (R),
Andy Barr (R),
Don Beyer (D),
Gus Bilirakis (R),
Sanford Bishop (D),
Earl Blumenauer (D),
Suzanne Bonamici (D),
Mike Bost (R),
Shontel Brown (D),
Vern Buchanan (R),
Yadira Caraveo (D),
Mike Carey (R),
Jerry Carl (R),
André Carson (D),
Buddy Carter (R),
Matt Cartwright (D),
Kathy Castor (D),
Judy Chu (D),
Jim Costa (D),
Angie Craig (D),
Jasmine Crockett (D),
Jason Crow (D),
Warren Davidson (R),
Danny Davis (D),
Don Davis (D),
Suzan DelBene (D),
Mario Diaz-Balart (R),
Neal Dunn (R),
Dwight Evans (D),
Mike Ezell (R),
Randy Feenstra (R),
Drew Ferguson (R),
Brad Finstad (R),
Michelle Fischbach (R),
Brian Fitzpatrick (R),
Chuck Fleischmann (R),
Scott Franklin (R),
Ruben Gallego (D),
Carlos Giménez (R),
Jimmy Gomez (D),
Josh Gottheimer (D),
Garret Graves (R),
Sam Graves (R),
Michael Guest (R),
Josh Harder (D),
Jahana Hayes (D),
Brian Higgins (D),
Chrissy Houlahan (D),
Bill Johnson (R),
Hank Johnson (D),
Dave Joyce (R),
Mike Kelly (R),
Robin Kelly (D),
Trent Kelly (R),
Dan Kildee (D),
Ann Kuster (D),
David Kustoff (R),
Darin LaHood (R),
Greg Landsman (D),
Nick Langworthy (R),
Bob Latta (R),
Jake LaTurner (R),
Barbara Lee (D),
Laurel Lee (R),
Susie Lee (D),
Julia Letlow (R),
Blaine Luetkemeyer (R),
Seth Magaziner (D),
Tracey Mann (R),
Betty McCollum (D),
Jim McGovern (D),
Dan Meuser (R),
Carol Miller (R),
Max Miller (R),
Alex Mooney (R),
Gwen Moore (D),
Joe Morelle (D),
Grace Napolitano (D),
Wiley Nickel (D),
Eleanor Holmes Norton (D),
Jimmy Panetta (D),
Chris Pappas (D),
Bill Pascrell (D),
Donald Payne (D),
Scott Peters (D),
Brittany Pettersen (D),
Dean Phillips (D),
Chellie Pingree (D),
Mark Pocan (D),
Bill Posey (R),
Hal Rogers (R),
Mike Rogers (R),
John Rutherford (R),
María Salazar (R),
Andrea Salinas (D),
Linda Sánchez (D),
David Schweikert (R),
David Scott (D),
Terri Sewell (D),
Mike Simpson (R),
Chris Smith (R),
Lloyd Smucker (R),
Abigail Spanberger (D),
Michelle Steel (R),
Elise Stefanik (R),
Greg Steube (R),
Bennie Thompson (D),
Rashida Tlaib (D),
Jill Tokuda (D),
Mike Turner (R),
David Valadao (R),
Beth Van Duyne (R),
Gabe Vasquez (D),
Marc Veasey (D),
Ann Wagner (R),
Michael Waltz (R),
Brad Wenstrup (R),
Nikema Williams (D),
Frederica Wilson (D),
Joe Wilson (R),
Steve Womack (R),
Rudy Yakym (R),
Last Action
Referred to the House Committee on Ways and Means. (on 04/06/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/2539/all-info |
| BillText | https://www.congress.gov/118/bills/hr2539/BILLS-118hr2539ih.pdf |
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