US HB8965 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on December 14 2020 - 25% progression, died in committee
Action: 2020-12-14 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on December 14 2020 - 25% progression, died in committee
Action: 2020-12-14 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Modifies provisions of the new markets tax credit (NMTC). Specifically, it increases and extends the NMTC limitation through 2022 and allows a carryback of the credit for five years. The bill also exempts the NMTC from the 75% general business credit limitation, revises debt modification rules for NMTC issuers and borrowers, and permanently exempts the NMTC from the alternative minimum tax.
Title
New Markets Stabilization Act
Sponsors
| Rep. Terri Sewell [D-AL] | Rep. Tom Reed [R-NY] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-12-14 | House | Referred to the House Committee on Ways and Means. |
| 2020-12-14 | House | Introduced in House |
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/8965/all-info |
| Text | https://www.congress.gov/116/bills/hr8965/BILLS-116hr8965ih.pdf |
