Number: RL34402
Title: New Markets Tax Credit: An Introduction
Authors: Donald J. Marples, Government and Finance Division 
Abstract: In the 110th Congress, legislative attention has focused primarily on extending the NMTC program authorization. This attention came to fruition with the enactment of P.L. 110-343, which extended the NMTC program authorization one year, through the end of 2009. This one-year extension was also proposed in H.R. 6049, S. 2886, S. 3098, and H.R. 7060. H.R. 2075 and S. 1239 propose to extend the NMTC through 2013. Both bills propose an additional allocation authority of $3.5 billion per year through 2013, indexed for inflation. H.R. 3907 proposes to make the NMTC permanent.
Pages: 7
Date: October 17, 2008