House Bill 1321
117th Congress(2021-2022)
New Markets Tax Credit Extension Act of 2021
Introduced
Introduced in House on Feb 25, 2021
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
1321
Congress
117
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 Tax Credit Extension Act of 2021
This bill makes the new markets tax credit permanent. It also modifies the credit to (1) provide for an inflation adjustment to the limitation amount for the credit after 2021, and (2) allow an offset against the alternative minimum tax for the credit (determined with respect to qualified equity investments initially made after 2020).
February 25, 2021
02/25/2021
Referred to the House Committee on Ways and Means.
02/25/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:47:07 PM