U.S. Senator Roy Blunt (R-MO) introduced legislation to make the New Markets Tax Credit (NMTC) program permanent, provide an annual allocation of credits indexed to inflation, and exempt NMTC investments from the Alternative Minimum Tax. U.S. Senators Chuck Schumer (D-NY), Steve Daines (R-MT) and Ben Cardin (D-MD) co-sponsored the New Market Tax Credit Extension Act of 2015.
The bill was assigned to the Senate Finance Committee, which will decide whether to send it on to the Senate as a whole.
Representatives Pat Tiberi (Ohio) and Richard Neal (Mass.) also recently introduced a version of the bill in the House. You can track both bills in our Advocacy Archive.
