Legislation to Make the NMTC Permanent
The NMTC expires at the end of 2025. The bipartisan New Markets Tax Credit Extension Act of 2023 (S.234) was introduced in the Senate this February by Senators Cardin (D-MD) and Daines (R-MT) and we expect introduction soon in the House. Contact your Senators and ask them to cosponsor S. 234.
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.
House (COMING SOON)
OLD BILL: Sewell: H.R. 1321 (2021/2022)
Cosponsors from last Congress who are still in the House:
Earl Blumenauer (D-OR03)
Dwight Evans (D-PA03)
Donald Payne (D-NJ10)
Donald Beyer (D-VA08)
Don Bacon (R-NE02)
Dean Phillips (D-MN03)
David Joyce (R-OH14)
Danny Davis (D-IL07)
Dan Kildee (D-MI08)
Garret Graves (R-LA06)
Andy Barr (R-KY06)
Claudia Tenney (R-NY24)
Emanuel Cleaver (D-MO05)
Chellie Pingree (D-ME01)
Carol Miller (R-WV01)
Brian Higgins (D-NY26)
Brian Fitzpatrick (R-PA01)
Brendan Boyle (D-PA02)
Brad Wenstrup (R-OH02)
Brad Finstad (R-MN01)
Lloyd Smucker (R-PA11)
Lori Trahan (D-MA03)
Gwen Moore (D-WI04)
Hal Rogers (R-KY05)
Jake Auchincloss (D-MA04)
Jim Baird (R-IN04)
Jason Crow (D-CO06)
Jerrold Nadler (D-NY12)
Jim McGovern (D-MA02)
Joe Wilson (R-SC02)
Senate
Cardin/Daines: S. 234 (2023/2024)
Ben Cardin (D-MD)
Bill Cassidy (R-LA)
Bob Menendez (D-NJ)
Chuck Schumer (D-NY)
Cindy Hyde-Smith (R-MS)
Jeanne Shaheen (D-NH)
Maria Cantwell (D-WA)
Mark Warner (D-VA)
Marsha Blackburn (R-TN)
Roger Wicker (R-MS)
Steve Daines (R-MT)
Tim Scott (R-SC)