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Legislative History

Congress has authorized a total of $91 billion in NMTC allocation (2001-2025). The NMTC was last extended for five years by the Consolidated Appropriations Act of 2021. The credit expires on December 31, 2025.

FIVE YEAR EXTENSION (2021 – 2025)


 
The Consolidated Appropriations Act of 2021 provided a five-year extension of the NMTC at $5 billion in annual allocation authority.
 
$5 billion in annual allocation authority
 
 

ONE-YEAR EXTENSION (2020)


 
The Fiscal Year 2020 appropriations bill (2019), H.R. 1865, provided a one-year NMTC extension at $5 billion in annual allocation authority.
 
$5 billion in annual allocation authority
 
 

FIVE-YEAR EXTENSION (2015 – 2019)


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The Preventing a Tax Hike (PATH) Act of 2015 (P.L. 114-53) extended the NMTC for five years at $3.5 billion in annual allocation.
 
$3.5 billion in annual allocation authority
 
 

ONE-YEAR EXTENSION (2014)


 

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

 
$3.5 billion in annual allocation authority
 
 

TWO-YEAR EXTENSION (2012-2013)


 

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.

 
$3.5 billion in annual allocation authority
 
 

TWO-YEAR EXTENSION (2010 – 2011)


 

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.

 
$3.5 billion in annual allocation authority
 
 

ALLOCATION INCREASE (2008 – 2009)


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

 
$1.5 billion in annual allocation authoirty
 
 

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.
 
$3.5 billion in annual allocation authority
 
 

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).
 
$3.5 billion in annual allocation authority
 
 

ALLOCATION INCREASE (2005 – 2006)


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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).
 
$1 billion in annual allocation authority
 
 

ENACTMENT (2001 – 2007)


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$15 billion was made available for 2001-2007 in the Community Renewal and Tax Relief Act (P.L. 106-551).
 
$15 billion over 7 years