NMTC Extension Included in Senate Reconciliation Legislation
On Tuesday, June 1, 2025, the Senate passed the One Big Beautiful Bill, which included a permanent extension of the NMTC at $5 billion in annual allocation authority.
Then on July 3, 2025, the House followed suit. The legislation makes the NMTC a permanent part of the Internal Revenue Code!
On this page, you can find a fact sheet projecting the impact of a permanent extension, sample letters, target lists, and other materials. NMTC supporters should think about where they have investments, and reach out to Republican members of the House who have supported the NMTC in the past, and urging them to signal to their leadership that the support the inclusion of the NMTC extension. You can also thank Republican Senators for including the NMTC, and express your support for the provision.
Thank You List
NMTC Permanence Fact Sheet, June 2025
The NMTC Extension Act of 2025
Legislation to Make the NMTC Permanent
The NMTC expires at the end of 2025. The bipartisan New Markets Tax Credit Extension Act of 2025 (S.479) was introduced in the Senate this February by Senators Daines (R-MT) and Warner (D-VA) and H.R. 1103 was introduced in the House by Reps. Tenney (R-NY) and Sewell (D-AL). Contact your Senators and Representatives and ask them to cosponsor S. 479/H.R. 1103.
The legislation would make the NMTC permanent, provide an inflation adjustment in out-years, and broaden the investor market by providing AMT relief to NMTC investors.