The New Markets Tax Credit Extension Act of 2011 (S. 966) was introduced on May 11 by a bi-partisan group of Senators led by Senators Jay Rockefeller (D, WVA) and Olympia Snowe (R, ME). The bill is also supported by Sens. Bingaman (D, NM), Brown (R,MA), Kerry (D,MA), Leahy (D,VT) and Schumer (D,NY).

S. 996 extends the New Markets Tax Credit through 2016 at $5 billion in annual credit authority. The bill also provides an exemption from the Alternative Minimum Tax (AMT) for investors in the Credit.

To read the bill please click here.

For more information on the Credit and the extension campaign please visit the NMTC Coalition’s website www.nmtccoaltion.org.