Community Development Investment Tax Credit Act of 2023

Summary

Community Development Investment Tax Credit Act of 2023 This bill allows investors a business-related tax credit for investment in a Community Development Financial Institution (CDFI). The applicable percentage of such credit is 3% for the first 10 years of investment in a CDFI with a 1% increase after the initial credit allowance date and for investments without a fixed term or duration. The tax credit is available to investors who invest in various CDFIs to provide financial support for increasing wealth in low- and moderate-income communities. The national limitation on the credit is $1 billion for 2022, $1.5 billion for 2023, and $2 billion for 2024 and each year thereafter, with adjustments for inflation.

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Timeline

1. 28 September 2023

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 28 September 2023

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 28 September 2023 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 28 September 2023

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 28 September 2023

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 28 September 2023

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Warner, Mark R. [D-VA] · D · Sponsor
• Sen. Wicker, Roger F. [R-MS] · R · Sponsor
• Sen. Peters, Gary C. [D-MI] · D · Sponsor
• Sen. Hyde-Smith, Cindy [R-MS] · R · Sponsor
• Sen. Moran, Jerry [R-KS] · R · Sponsor
• Sen. Van Hollen, Chris [D-MD] · D · Sponsor
• Sen. Boozman, John [R-AR] · R · Cosponsor
• Sen. Gillibrand, Kirsten E. [D-NY] · D · Cosponsor
• Sen. Hassan, Margaret Wood [D-NH] · D · Cosponsor
• Sen. Blackburn, Marsha [R-TN] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to ← Community Development Investment Tax Credit Act of 2023