A bill introduced in the House of Representatives would make the New Markets Tax Credit permanent. Introduced by Reps. Pat Tiberi (R-Ohio), Richard Neal (D-Mass.) and Tom Reed (R-N.Y.), the bill would also provide an increase in the annual NMTC allocation and provide Alternative Minimum Tax (AMT) relief for NMTC investments. As a result, NMTC investors would receive the same consideration under the AMT as is currently provided to investors in many other federal tax credits. “I’ve seen first-hand the benefits of the New Markets Tax Credit in the 12th Congressional District,” said Tiberi. "[T]his tax credit is a tool to help revitalize communities by not only putting people to work but by funding projects that are a community benefit.”