,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #afhj  ,,in ,,the ,,house ,,of  
,,representatives  ,march #ab1 #bjai,ms4
 ,sewell of ,alabama 7for herself1 ,mr4 
,reed1 ,mr4 ,pascrell1 ,ms4 ,del,bene1  
,mr4 ,kildee1 ,mr4 ,blumenauer1 ,ms4    
,moore1 ,mr4 ,higgins of ,new ,york1    
,mr4 ,larson of ,connecticut1 ,mr4      
,danny ,k4 ,davis of ,illinois1 ,mr4    
,kind1 ,ms4 ,snchez1 ,mrs4 ,walorski1   
,mr4 ,kelly of ,pennsylvania1 ,mr4      
,smith of ,missouri1 ,mr4 ,la,hood1 and 
,mr4 ,wenstrup7 introduced the following
 bill2 which was referred to the        
,committee on ,ways and ,means  ,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 #bjai4  
#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   
for each of calendar years #bjaj through
 #bjai and inserting for calendar year  
#bjaj 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 #bjah1 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 #bjaf in subparagraph     
7,a77ii7 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 7xii7 as clauses 7vi7 through   
7xiii71 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 after         
,december #ca1 #bjah1  4  7d7 ,effective
 dates  7#a7 ,in general ,except as     
provided in paragraph 7#b71 the         
amendments made by this section shall   
apply to taxable years beginning after  
,december #ca1 #bjah4  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 ,december #ca1 #bjah4