,,ii  #aacth ,,congress  #ast ,session  
,s4 #aacc  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #aa1     
#bjac ,mr4 ,rockefeller 7for himself1   
,mr4 ,blunt1 ,mr4 ,cardin1 ,ms4         
,collins1 and ,ms4 ,cantwell7 introduced
 the following bill2 which was read     
twice and referred to the ,committee on 
,finance  ,a ,,bill  ,to amend the      
,internal ,revenue ,code of #aihf to    
permanently extend the new markets tax  
credit1 and for other purposes4  #a4    
,short title ,this ,act may be cited as 
the ,new ,markets ,tax ,credit          
,extension ,act of #bjac4  #b4          
,permanent extension of new markets tax 
credit  7a7 ,extension  7#a7 ,in general
 ,subparagraph 7,g7 of section          
#de;,d7f77#a7 of the ,internal ,revenue 
,code of #aihf is amended by striking 1 
#bjaa1 #bjab1 and #bjac and inserting   
and each calendar year thereafter4  7#b7
 ,conforming amendment ,section         
#de;,d7f77#c7 of such ,code is amended  
by striking the last sentence4  7b7     

,inflation adjustment ,subsection 7f7 of
 section #de;,d of the ,internal        
,revenue ,code of #aihf is amended by   
adding at the end the following new     
paragraph3  7#d7 ,inflation adjustment  
7,a7 ,in general ,in the case of any    
calendar year beginning after #bjac1 the
 dollar amount in paragraph 7#a77;,g7   
shall be increased by an amount equal   
to--  7i7 such dollar amount1 multiplied
 by  7ii7 the cost-of-living adjustment 
determined under section #a7;f77#c7 for 
the calendar year1 determined by        
substituting calendar year #bjjj for    
calendar year #aiib in subparagraph 7,b7
 thereof4  7,b7 ,rounding rule ,any     
increase under subparagraph 7,a7 which  
is not a multiple of #a1jjj1jjj shall be
 rounded to the nearest multiple of     
#a1jjj1jjj4  4  7c7 ,alternative minimum
 tax relief ,subparagraph 7,b7 of       
section #ch7;c77#d7 of the ,internal    
,revenue ,code of #aihf is amended--    
7#a7 by redesignating clauses 7v7       
through 7ix7 as clauses 7vi7 through    

7x71 respectively1 and  7#b7 by         
inserting after clause 7iv7 the         
following new clause3  7v7 the credit   
determined under section #de;,d1 but    
only with respect to credits determined 
with respect to qualified equity        
investments 7as defined in section      
#de;,d7b77 initially made before        
,january #a1 #bjad1  4  7d7 ,effective  
dates  7#a7 ,in general ,except as      
provided in paragraph 7#b71 the         
amendments made by this section shall   
take effect on the date of the enactment
 of this ,act4  7#b7 ,alternative       
minimum tax relief ,the amendments made 
by subsection 7c7 shall apply to credits
 determined with respect to qualified   
equity investments 7as defined in       
section #de;,d7b7 of the ,internal      
,revenue ,code of #aihf7 initially made 
after the date of the enactment of this 
,act4