H.R. 1103 aims to make the new markets tax credit a permanent feature of the tax code by updating the Internal Revenue Code of 1986. The bill ensures that the tax credit is available every year starting in 2020 and adjusts the credit for inflation starting in 2025. It also...
Simple Explanation
H.R. 1103 wants to make sure a special tax credit that helps businesses invest in certain communities stays around forever and grows a little each year to keep up with rising costs, starting in 2025. It also gives special tax help to new investments starting in 2025, but some people think this might not be fair to everyone.