New Markets Tax Credit Extension Act of 2019
Latest action · Mar 12, 2019 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 12, 2019
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
New Markets Tax Credit Extension Act of 2019
This bill makes the new markets tax credit permanent. It also modifies the credit to (1) provide for an inflation adjustment to the limitation amount for the credit after 2018, and (2) allow an offset against the alternative minimum tax for the credit (determined with respect to qualified equity investments initially made after 2018).
Cosponsors 37
Members who signed on, in the order they did. Signatures ran from Mar 12, 2019 to Feb 11, 2020, with 5 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MD | Benjamin L. Cardin | Original | Mar 12, 2019 |
| D-NY | Charles E. Schumer | Original | Mar 12, 2019 |
| D-WA | Maria Cantwell | Original | Mar 12, 2019 |
| R-OH | Rob Portman | Original | Mar 12, 2019 |
| R-SC | Tim Scott | Original | Mar 12, 2019 |
| R-MS | Cindy Hyde-Smith | Mar 27, 2019 | |
| D-MI | Debbie Stabenow | Mar 27, 2019 | |
| D-MT | Jon Tester | Mar 27, 2019 | |
| R-MS | Roger F. Wicker | Mar 27, 2019 | |
| R-WV | Shelley Moore Capito | Mar 27, 2019 | |
| D-OH | Sherrod Brown | Mar 27, 2019 | |
| R-MT | Steve Daines | Mar 27, 2019 | |
| D-MN | Tina Smith | Mar 27, 2019 | |
| D-NV | Catherine Cortez Masto | Apr 11, 2019 | |
| R-AR | John Boozman | Apr 11, 2019 |
Actions 2
Everything that happened, newest first.
- Mar 12, 2019Introduced in Senate
- Mar 12, 2019Read twice and referred to the Committee on Finance.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1680 | New Markets Tax Credit Extension Act of 2019 | Identical bill | Mar 12, 2019 |
| S 5011 | Economic Empowerment for Underserved Communities Act | Related bill | Dec 11, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Mar 12, 2019Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.
