Referred to the House Committee on Education and Workforce.
Why This Matters
This bill extends a tax credit that helps attract investments to struggling communities and adjusts it for inflation. It aims to support economic growth in these areas by making the credit available indefinitely.
If you invest in low-income areas, you could receive tax credits that help your business grow.
Who this affects
Investors · Businesses
What changes is this bill making?
1This bill would permanently extend the New Markets Tax Credit beyond 2025.
2It would adjust the credit amount for inflation starting in 2026.
3The bill would provide relief from the alternative minimum tax for certain investments.
4It aims to encourage investment in low-income communities.
5The changes would apply to taxable years starting after December 31, 2024.
