,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #cdci  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,octob] #cj1 #bjac,mr4
 ,?ompson ( ,cali=nia 7= himself & ,mr4 
,hall7 introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to provide = ! p]man5t   
application ( ! new m>kets tax cr$it = !
 r$evelopm5t ( communities impact$ by   
realignm5t or closure ( milit>y         
in/allations4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,new ,m>kets ,tax      
,cr$it ,milit>y ,in/allation ,act (     
#bjac or ! ,,nmtc ,milit>y ,in/allation 
,act4  #b4 ,f9d+s ,congress f9ds !      
foll[+3 7#a7 ,s9ce #aihh1 ?r\gh #e      
sep>ate r\nds ( ! ,base ,realignm5t &   
,closure process1 m ?an #cjj milit>y    
in/allations locat$ 9 #dh ,/ates & #c   
,unit$ ,/ates t]ritories h _h _!        
missions elim9at$ or realign$4  7#b7    
#abj ( ^! =m] in/allations 7 major base 
closures1 result+ 9 ! loss ( #cjj or m  
milit>y & civilian jobs at ea* closure4 

,:ile ^! communities receiv$ ,f$]al     
support 9 ! #aiijs1 !re are curr5tly no 
,f$]al programs to support ! physical   
r$evelopm5t at clos$ or realign$        
in/allations4  7#c7 ,despite local      
active ef=ts to promote r$evelopm5t1    
ne>ly #ajj ( ^! clos$ or realign$       
milit>y in/allations are locat$ 9       
economically di/ress$ communities n[    
suff]+ f high unemploym5t &             
disproportionately high pov]ty rates z  
det]m9$ by ! ,dep>tm5t ( ! ,treasury4   
7#d7 ,m ?an #bj ( ^! =m] in/allations   
are locat$ 9 ev5 h>d] hit sev]ely       
di/ress$ communities z def9$ by !       
,dep>tm5t ( ! ,treasury4  7#e7 ,"o      
example is ! ,city ( ,vallejo1          
,cali=nia1 :i* 9 #bjjh fil$ = bankruptcy
 protection due 9 "p to closure ( ! ,m>e
 ,isl& ,naval ,%ipy>d & ! accompany+    
loss ( almo/ #aj1jjj jobs4  7#f7 ,:5 a  
milit>y base is clos$1 ! ,dep>tm5t (    
,def5se is requir$ to complete any      
necess>y environm5tal cleanup at ! =m]  
base & !n transition ! prop]ty to a     

,local ,r$evelopm5t ,au?ority1 usually a
 local gov]nm5t4 ,toge!r1 ! ,dep>tm5t ( 
,def5se ,(fice ( ,economic ,adju/m5t & !
 ,local ,r$evelopm5t ,au?ority create a 
r$evelopm5t plan = ! prop]ty4 ,! goal ( 
?is process is to lead to a timely1     
b5eficial1 rev5ue g5]at+ reuse ( ^! =m] 
milit>y bases4  7#g7 ,h[ev]1 num]\s =m] 
milit>y in/allations h tak5 mu* long] & 
co/ mu* m ?an expect$ to clean up1 !reby
 significantly delay+ reuse & caus+ _m (
 ^! communities to become or rema9      
economically di/ress$4  7#h7 ,9 #bjjj1 !
 ,new ,m>kets ,tax ,cr$it 7,,nmtc7      
program 0 creat$ to spur private sector 
inve/m5t 9 l[-income communities suff]+ 
f *ronic unemploym5t & high pov]ty rates
 by provid+ inve/ors ) a #g-ye>1        
#ci-p]c5t ,f$]al income tax cr$it =     
inve/m5ts made ?r\gh inve/m5t vehicles  
kn[n z ,community ,developm5t ,entities4
 ,accord+ to ! ,dep>tm5t ( ! ,treasury1 
e #a ( =egone tax rev5ues "u ! ,,nmtc   
program lev]ages ab\t #ab ( private     
inve/m5t 9 di/ress$ communities on a co/

 basis4  7#i7 ,rec5tly1 ! community 9   
,brunswick1 ,ma9e1 has be5 successfully 
r$evelop+ ! =m] ,naval ,air ,/ation     
locat$ !re1 by us+ among o!r tools !    
,,nmtc4 ,9 p>ticul>1 ! ,,nmtc 0 us$ to  
build a new1 #ae million1 #hj1jjj squ>e 
foot manufactur+ facility op]at$ by     
,sw$i% m$ical supply mak] ,molnlycke    
,heal? ,c>e4 ,a second ,,nmtc 0 us$ to  
make #bj million 9 r5ovations (         
facilities n[ op]at$ by aircraft        
manufactur] ,ke/rel ,a][orks4 ,?is latt]
 project c\ld h be5 #c times z l>ge _h  
additional ,,nmtc funds be5 available4  
,^! two projects alone w br+ ov] #bjj   
high-te*1 high-wage jobs among o!r      
significant economic b5efits to ?is     
economically di/ress$ =m] milit>y       
community4  7#aj7 ,communities surr\nd+ 
^! =m] milit>y in/allations /ill face ! 
difficult *all5ges ( economic           
r$evelopm5t result+ f ! loss ( ! ,f$]al 
work=ce & ! support+ infra/ructure      
associat$ ) ! =m] milit>y missions      
locat$ !re4 ,focus+ "p ( ! successful   

,,nmtc to help ^! communities t are /ill
 /ruggl+ aft] ! milit>y exodus w help   
facilitate ! economic r$evelopm5t t ^!  
di/ress$ communities ne$4  #c4 ,p]man5t 
application ( new m>kets tax cr$it      
limitation ) respect to communities     
impact$ by realignm5t or closure (      
milit>y in/allations  7a7 ,9 g5]al      
,subsection 7f7 ( section #de;,d ( !    
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new p>agraph3 
7#d7 ,special rule = allocation (       
limitation = r$evelopm5t ( communities  
impact$ by realignm5t or closure (      
milit>y in/allations  7,a7 ,9 g5]al     
,not)/&+ p>agraph 7#a71 = cal5d> ye>    
#bjad 7& ea* cal5d> ye> !reaft]7 !      
,secret>y %all allocate #ajj1jjj1jjj 9  
new m>kets tax cr$it limitation among   
qualifi$ developm5t entities select$ by 
! ,secret>y to make qualifi$ l[-income  
community inve/m5ts )9 ! =m] b\nd>ies ( 
milit>y in/allations realign$ or clos$  
pursuant to a base closure law 7z def9$ 
9 section #aja7;a77#ag7 ( title #aj1    

,unit$ ,/ates ,code74  7,b7 ,qualifi$   
developm5t entity mission requirem5t ,a 
qualifi$ community developm5t entity    
%all be eligible = an allocation "u     
subp>agraph 7,a7 only if a significant  
mission ( su* entity is ! r$evelopm5t ( 
su* a milit>y in/allation4  7,c7        
,c>ryov] ( unus$ limitation ,if ! new   
m>kets tax cr$it limitation = any cal5d>
 ye> exce$s ! aggregate am\nt allocat$  
"u subp>agraph 7,a7 = su* ye>1 su*      
limitation = ! succe$+ cal5d> ye> %all  
be increas$ by ! am\nt ( su* excess4  4 
7b7 ,effective date ,! am5dm5ts made by 
?is section %all apply to allocations   
aft] ,decemb] #ca1 #bjac4