A bill to amend the Internal Revenue Code of 1986 to extend the new markets tax credit.
New Markets Tax Credit Reauthorization Act of 2005 - Amends the Internal Revenue Code to extend the new markets tax credit limitation amount of $3.5 million through calendar year 2012 and to adjust such amount for inflation for taxable years beginning after 2008.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S10748-10749)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S10749)
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