House Bill 8965
116th Congress(2019-2020)
New Markets Stabilization Act
Introduced
Introduced in House on Dec 14, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
8965
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
New Markets Stabilization Act
This bill 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.
December 14, 2020
12/14/2020
Referred to the House Committee on Ways and Means.
12/14/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:43:59 PM