House Extends NMTC Sunset in Trifecta Bill
Last Friday, the House of Representatives passed a bill that includes an extension of the New Markets Tax Credit beyond its 2007 sunset. The bill (H.R. 5970) is referred to as the 'Trifecta' bill, as it includes permanent estate tax relief, tax extenders and increasing the minimum wage. The bill now moves to the Senate, which is expected to take up the package later this week. It is unclear if the Senate will pass the bill, as there are strong objections to the permanent estate tax relief provisions in the bill.
The extension of the new markets tax credit will be discussed by industry experts at Novogradac & Company LLP's New Markets Tax Credit Investors Conference October 24-26, 2006 in Boston, Mass.