Senator Jay Rockefeller (D-VW) and Senator Olympia Snowe (R-ME) will introduce the New Markets Tax Credit Extension Act of 2011 this week.
The New Markets Tax Credit Extension Act of 2011 would extend the New markets Tax Credit (NMTC) for 5 years and provide $5 billion in annual allocation authority. In addition, the bill would provide an Alternative Minimum Tax (AMT) exemption for NMTC investments, thereby ensuring NMTC investors the same consideration under the AMT as is currently provided to investors in many other federal tax credits.
Senators Rockefeller and Snowe have written to invite their Senate Colleagues to co-sponsor this important NMTC legislation. To be listed as an original co-sponsor Senators must Mark Libell with Senator Rockefeller (224-6472) or Scott McCandless with Senator Snowe (224-7884) by 12:00 noon, Thursday May 12th.
The NMTC Coalition compiled a ‘target list’ of Senators that includes Senators who co-sponsored the New Markets Tax Credit Extension Act (S. 1583) in the 111th Congress, Members of the Senate Finance Committee, and Senators from States with significant NMTC activity.
Call your Senators today and encourage them to be an original co-sponsor. Send them a copy of the attached letter from Senators Rockefeller and Snowe as well as a copy of the draft bill.
After making your call, contact the Coalition – Elizabeth Fiveash for follow-up.
Senate Target List
Potential Co-sponsors of New Markets Tax Credit Extension Act of 2011
Co-sponsors of the NMTC Extension Act (S. 1583) in the 111th Congress:
Jeff Bingaman (D-NM)*
Richard Burr (R-NC)
Richard Durbin (D-IL)
James Inhofe (R-OK)
Tim Johnson (D-SD)
John Kerry (D-MA)*
Mary Landrieu (D-LA)
Patrick Leahy (D-VT)
Debbie Stabenow (D-MI)*
Additional Senate Targets
Mark Begich (D-AK)
Lisa Murkowski (R-AK)
Jon Kyl (R-AZ)*
Barbara Boxer (D-CA)
Diane Feinstein D-CA)
Thomas R. Carper (D-DE)*
Bill Nelson (FL)*
Johnny Isakson (R-GA)
Charles Grassley (R-IA)*
Mike Crapo (R-ID)*
Mark Kirk (R-IL)
Pat Roberts (R-KS)*
David Vitter (R-LA)
Scott Brown (R-MA)
Benjamin Cardin (D-MD)
Susan Collins (R-ME)
Carl Levin (D-MI)
Al Franken (D-MN)
Amy Klobuchar (D-MN)
Max Baucus (D-MT)*
John Tester (D-MT)
Kay Hagen (D-NC)
Kent Conrad (D-ND)*
Robert Menendez (D-NJ)*
Tom Udall (D-NM)
Kristen Gillibrand (D-NY)
Charles E. Schumer (D-NY)*
Sherrod Brown D-OH)
Rob Portman (R-OH)
Tom Coburn (R-OK)
Ron Wyden (D-OR)*
John Thune (R-SD)
John Cornyn (R-TX)*
Orrin Hatch (R-UT)*
Maria Cantwell (D-WA)*
Herb Kohl (D-WI)
Joe Manchin (D-WV)
Michael B. Enzi (R-WY)*
(* Member of Senate Committee on Finance)
Register Now for the NMTCC Policy Conference!
The NMTC Coalition will host its Policy Conference in Washington, DC on June 7, 2011 at the Hyatt Regency on Capitol Hill. Registration is open so visit our website to sign-up and get a first look at our agenda.
