To amend the Internal Revenue Code of 1986 to make certain improvements to the new markets tax credit, and for other purposes.
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.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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