United States 119th Congress Status: In Committee Bipartisan · 13 R · 13 D cosponsors

S 479 — New Markets Tax Credit Extension Act of 2025

Last action — Read twice and referred to the Committee on Finance.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced February 06, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 42% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 26 sponsors

    1 primary, 25 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (13 R · 13 D) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

How this bill changes current law

5 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill permanently extends the new markets tax credit and includes an inflation adjustment provision.

  • Section 45D(f)(1)

    for each of calendar years 2020 through 2025 → calendar year 2020 and each calendar year thereafter

    This change allows the new markets tax credit to be available indefinitely beyond 2025.

  • Section 45D(f)(3)

    last sentence

    This removes the concluding sentence of the section, likely to facilitate the extension of the credit.

  • Section 45D

    (4) Inflation adjustment.-- ``(A) In general.--In the case of any calendar year beginning after 2025, the dollar amount in paragraph (1)(H) shall be increased by an amount equal to-- ``(i) such dollar amount, multiplied by ``(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, determined by substituting `calendar year 2000' for `calendar year 2016' in subparagraph (A)(ii) thereof. ``(B) Rounding rule.--Any increase under subparagraph (A) which is not a multiple of $1,000,000 shall be rounded to the nearest multiple of $1,000,000.

    This adds a mechanism for adjusting the dollar amount of the credit for inflation starting in 2026.

  • Section 38(c)(4)

    the credit determined under section 45D, but only with respect to credits determined with respect to qualified equity investments (as defined in section 45D(b)) initially made after December 31, 2024

    This allows the new markets tax credit to be included in the alternative minimum tax calculations for investments made after 2024.

  • Effective Dates

    (1) In general.--Except as provided in paragraph (2), the amendments made by this section shall apply to taxable years beginning after December 31, 2024.

    This sets a clear timeline for when the new provisions will take effect.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Finance.

Sponsors

Sponsorship breakdown

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1 sponsors · 25 co-sponsors · 521 not signed on

Sponsors (1)

Co-sponsors (25)

Not signed on (521)

521 members have not signed on to this bill.

Show all 521 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
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Frequently asked questions

Who sponsors S 479?
S 479 is sponsored by Daines, Steve (Republican), Warner, Mark R. (Democratic), Boozman, John (Republican), Welch, Peter (Democratic), Cassidy, Bill (Republican), Schumer, Charles E. (Democratic), Hyde-Smith, Cindy (Republican), Shaheen, Jeanne (Democratic), Ricketts, Pete (Republican), Klobuchar, Amy (Democratic), Moran, Jerry (Republican), Cantwell, Maria (Democratic), Wicker, Roger F. (Republican), Hickenlooper, John W. (Democratic), Blackburn, Marsha (Republican), Booker, Cory A. (Democratic), Sheehy, Tim (Republican), Kelly, Mark (Democratic), Hoeven, John (Republican), Van Hollen, Chris (Democratic), Scott, Tim (Republican), Peters, Gary C. (Democratic), Rosen, Jacky (Democratic), Capito, Shelley Moore (Republican), Britt, Katie Boyd (Republican), and Hassan, Margaret Wood (Democratic).
What is the current status of S 479?
This bill is in committee in the Senate. Introduced February 06, 2025. It must pass committee before a floor vote.
Where can I track S 479?
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