Legislative History

The NMTC was last extended for five years by the PATH Act in 2015. The credit expires on December 31, 2019.

LEGISLATIVE HISTORY

The NMTC has been extended several times since its enactment. To date, Congress has authorized $61 billion in NMTC allocation.

ENACTMENT (2001-2007)

$15 billion was made available for 2001-2007 in the Community Renewal and Tax Relief Act (P.L. 106-551).

ALLOCATION INCREASE (2005/06)

An additional $1 billion was authorized for communities hard-hit by Gulf Coast hurricanes in the Gulf Opportunity Zone Act of 2005 (P.L. 109-135).

ONE-YEAR EXTENSION (2008)

In 2006, Congress extended the NMTC for 2008 at $3.5 billion in annual credit authority through the Tax Relief and Health Care Act of 2006 (P.L. 109-432).

ONE-YEAR EXTENSION (2009)

The Emergency Economic Stabilization Act of 2008 (P.L. 110-343) extended the Credit for 2009, again at $3.5 billion in annual credit authority.

ALLOCATION INCREASE (2008/09)

The American Recovery and Reinvestment Act of 2009 (P.L. 111-16), increased credit authority to $5 billion for both 2008 and 2009.

TWO-YEAR EXTENSION (2010/11)

The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (P.L. 111-312) provided a two-year extension of the NMTC (2010 and 2011) at $3.5 billion.

TWO-YEAR EXTENSION (2012/13)

The American Taxpayer Relief Act of 2012 (P.L. 112–240) provided a two-year extension of the NMTC (2012 and 2013) at $3.5 billion.

ONE-YEAR EXTENSION (2014)

The Tax Increase Prevention Act of 2014 (P.L. 113-295) extended the NMTC for 2014 at $3.5 billion.

FIVE-YEAR EXTENSION (2015 – 2019)

The Preventing a Tax Hike (PATH) Act of 2017 (P.L. 114-53) extended the NMTC for five years at $3.5 billion in annual allocation.

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