3.0.0 8965 2023-01-11T13:43:59Z 2023-01-11T13:43:59Z House HR 2020-12-14 116 [Congressional Record Volume 166, Number 211 (Monday, December 14, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. SEWELL of Alabama:H.R. 8965.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1 of the Constitution of theUnited States.[Page H7154]]]> hswm00 Ways and Means Committee House Standing Referred to 2020-12-14T18:31:15Z 2020-12-14 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2020-12-14 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-12-14 Introduced in House IntroReferral 1000 9 Library of Congress S001185 Rep. Sewell, Terri A. [D-AL-7] Terri Sewell D AL A. 7 N R000585 Rep. Reed, Tom [R-NY-23] Tom Reed R NY 23 2020-12-14 True Taxation Business investment and capital Community life and organization Debt collection Economic development Income tax credits Tax administration and collection, taxpayers Taxation 00 2020-12-14 Introduced in House 2021-01-19T16:47:30Z New Markets Stabilization Act

This bill modifies provisions of the new markets tax credit (NMTC). Specifically, it increases and extends the NMTC limitation through 2022 and allows a carryback of the credit for five years. The bill also exempts the NMTC from the 75% general business credit limitation, revises debt modification rules for NMTC issuers and borrowers, and permanently exempts the NMTC from the alternative minimum tax.

]]> New Markets Stabilization Act Display Title New Markets Stabilization Act Short Title(s) as Introduced New Markets Stabilization Act Introduced in House IH Official Title as Introduced To amend the Internal Revenue Code of 1986 to make certain improvements to the new markets tax credit, and for other purposes. Introduced in House IH Introduced in House 2020-12-14T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr8965ih/xml/BILLS-116hr8965ih.xml 2020-12-14 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.