LISC NMTC Program -- Shops at Park Village Shopping Center in Washington, DC
The New Markets Extension Act of 2011 (S. 996 and H.R. 2655) In the 112th Congress, Senators Jay Rockefeller (D-WV) and Olympia Snowe (R-ME) introduced the New Markets Tax Credit Extension Bill of 2011 and Representatives Jim Gerlach (R-PA) and Richard Neal (D-MA) introduced an identical companion bill in the House.
The New Markets Tax Credit Extension Act of 2011 (S. 996 and H.R. 2655) would extend the NMTC program for 5 years, through 2016, with $5 billion in annual Credit allocations. The legislation would also provide NMTC investors an exemption from the Alternative Minimum Tax (AMT). This exemption is currently available to other, similar tax credits including Low Income Housing Tax Credits, Historic Tax Credits, and Renewable Energy Credits.
- House Bill and Fact Sheet
- Senate Bill and Fact Sheet