U.S. Representative Brian Higgins (D-NY) last week introduced H.R. 3224 to extend the New Markets Tax Credit (NMTC) program through 2016. The legislation would fund the program at a level of $10 billion each year, double the amount of annual authority proposed by the New Markets Tax Credit Extension Act of 2011 (H.R. 2655) Rep. Higgins bill was referred to the House Ways and Means Committee upon introduction.
Click here to read the full text of H.R. 3224.