Us Congress 2025-2026 Regular Session

Us Congress House Bill HB1103 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 1103
5	5	To amend the Internal Revenue Code of 1986 to permanently extend the
6	6	new markets tax credit, and for other purposes.
7	7	IN THE HOUSE OF REPRESENTATIVES
8	8	FEBRUARY6, 2025
9	9	Ms. T
10	10	ENNEY(for herself, Mr. KELLYof Pennsylvania, Ms. SEWELL, Mr.
11	11	D
12	12	AVISof Illinois, Ms. MOOREof Wisconsin, Ms. VANDUYNE, Ms.
13	13	S
14	14	A´NCHEZ, Mrs. MILLERof West Virginia, Ms. DELBENE, Mr.
15	15	B
16	16	UCHANAN, Mr. LAHOOD, Mr. GOMEZ, Mr. BEYER, Mr. PANETTA, Mr.
17	17	Y
18	18	AKYM, Mr. MILLERof Ohio, Ms. CHU, Mr. FEENSTRA, Mr. CAREY, Mr.
19	19	S
20	20	MUCKER, Mr. FITZPATRICK, Mr. STEUBE, Mr. MORAN, and Mrs.
21	21	F
22	22	ISCHBACH) introduced the following bill; which was referred to the Com-
23	23	mittee on Ways and Means
24	24	A BILL
25	25	To amend the Internal Revenue Code of 1986 to permanently
26	26	extend the new markets tax credit, and for other purposes.
27	27	Be it enacted by the Senate and House of Representa-1
28	28	tives of the United States of America in Congress assembled, 2
29	29	SECTION 1. SHORT TITLE. 3
30	30	This Act may be cited as the ‘‘New Markets Tax 4
31	31	Credit Extension Act of 2025’’. 5
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34	34	•HR 1103 IH
35	35	SEC. 2. PERMANENT EXTENSION OF NEW MARKETS TAX 1
36	36	CREDIT. 2
37	37	(a) E
38	38	XTENSION.— 3
39	39	(1) I
40	40	N GENERAL.—Subparagraph (H) of section 4
41	41	45D(f)(1) of the Internal Revenue Code of 1986 is 5
42	42	amended by striking ‘‘for each of calendar years 6
43	43	2020 through 2025’’ and inserting ‘‘calendar year 7
44	44	2020 and each calendar year thereafter’’. 8
45	45	(2) C
46	46	ONFORMING AMENDMENT .—Section 9
47	47	45D(f)(3) of such Code is amended by striking the 10
48	48	last sentence. 11
49	49	(b) I
50	50	NFLATIONADJUSTMENT.—Subsection (f) of sec-12
51	51	tion 45D of the Internal Revenue Code of 1986 is amend-13
52	52	ed by adding at the end the following new paragraph: 14
53	53	‘‘(4) I
54	54	NFLATION ADJUSTMENT .— 15
55	55	‘‘(A) I
56	56	N GENERAL.—In the case of any cal-16
57	57	endar year beginning after 2025, the dollar 17
58	58	amount in paragraph (1)(H) shall be increased 18
59	59	by an amount equal to— 19
60	60	‘‘(i) such dollar amount, multiplied by 20
61	61	‘‘(ii) the cost-of-living adjustment de-21
62	62	termined under section 1(f)(3) for the cal-22
63	63	endar year, determined by substituting 23
64	64	‘calendar year 2000’ for ‘calendar year 24
65	65	2016’ in subparagraph (A)(ii) thereof. 25
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68	68	•HR 1103 IH
69	69	‘‘(B) ROUNDING RULE .—Any increase 1
70	70	under subparagraph (A) which is not a multiple 2
71	71	of $1,000,000 shall be rounded to the nearest 3
72	72	multiple of $1,000,000.’’. 4
73	73	(c) A
74	74	LTERNATIVEMINIMUMTAXRELIEF.—Subpara-5
75	75	graph (B) of section 38(c)(4) of the Internal Revenue 6
76	76	Code of 1986 is amended— 7
77	77	(1) by redesignating clauses (vii) through (xii) 8
78	78	as clauses (viii) through (xiii), respectively, and 9
79	79	(2) by inserting after clause (vi) the following 10
80	80	new clause: 11
81	81	‘‘(vii) the credit determined under sec-12
82	82	tion 45D, but only with respect to credits 13
83	83	determined with respect to qualified equity 14
84	84	investments (as defined in section 45D(b)) 15
85	85	initially made after December 31, 2024,’’. 16
86	86	(d) E
87	87	FFECTIVEDATES.— 17
88	88	(1) I
89	89	N GENERAL.—Except as provided in para-18
90	90	graph (2), the amendments made by this section 19
91	91	shall apply to taxable years beginning after Decem-20
92	92	ber 31, 2024. 21
93	93	(2) A
94	94	LTERNATIVE MINIMUM TAX RELIEF .—The 22
95	95	amendments made by subsection (c) shall apply to 23
96	96	credits determined with respect to qualified equity 24
97	97	investments (as defined in section 45D(b) of the In-25
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100	100	•HR 1103 IH
101	101	ternal Revenue Code of 1986) initially made after 1
102	102	December 31, 2024. 2
103	103	Æ
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