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 H.R. 2539 was introduced in April by Reps. Tenney (R-NY) and Sewell (D-AL) Contact your Senators and Representatives and ask them to cosponsor S. 234/H.R. 2539.
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.