S 234
New Markets Tax Credit Extension Act of 2023
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- Passed Senate
- Passed House
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- Became Law
Bill overview
This bill permanently extends the New Markets Tax Credit, a program designed to encourage investment in economically distressed communities. It makes several changes to the credit, including adjusting the maximum amount available for inflation and allowing businesses to use the credit to offset their alternative minimum tax liability. These changes aim to make the credit more effective in supporting investment in these areas.
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Primary sponsor
Benjamin L. Cardin
Cosponsors
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