Bill · S. 479· Senate(119-S-479)

New Markets Tax Credit Extension Act of 2025

Age: 64 years

Montana

Introduced: 2/6/2025
Last activity: 2/6/2025 — Read twice and referred to the Committee on Finance.
Sponsored by: Steve Daines
Cosponsors: - 12 - 13

Taxation

Introduced
In Committee

What this bill would do

This bill, known as the "New Markets Tax Credit Extension Act of 2025," seeks to amend the Internal Revenue Code of 1986. Its primary purpose is to permanently extend the new markets tax credit. The legislation also introduces an inflation adjustment mechanism for the credit starting after the year 2025. Additionally, it provides relief regarding the Alternative Minimum Tax for certain qualified equity investments. These changes are intended to apply to taxable years beginning after December 31, 2024.

Yes· 3 of 14

Would business owners be better off under this?+3
The bill extends tax incentives that encourage investment in various business sectors within qualifying areas.
Does this cut taxes for small businesses?+3
The bill extends the New Markets Tax Credit which incentivizes investment in distressed communities, benefiting local small businesses.
Is this likely to create jobs?+3
The permanent extension of the New Markets Tax Credit is intended to incentivize capital investment in underserved areas, which can lead to job growth.