US Senate Bill proposes permanent extension of New Markets Tax Credit
Credits and Incentives Quarterly
On June 11, 2013, Senate Bill 1133 was introduced to permanently extend the New Markets Tax Credit. The credit is generally subject to renewal on an annual basis, with it currently set to expire following the 2013 calendar year. S.B. 1133, if enacted, would put an end to the renewal exercise and make the credit permanent. The bill also provides for an annual credit inflation adjustment and alternative minimum tax relief.