Community Development Investment Tax Credit Act of 2023

Summary

Official

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...

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Bill Progress

Bill has been introduced and assigned a number

Introduced(9/28/23)

Committee

Passed House

Passed Senate

President

Law

Sponsor

Mr. Warner

Senate (D) Virginia

Cosponsors (9)

Hassan

Senate (D) New Hampshire

Boozman

Senate (R) Arkansas

Moran

Senate (R) Kansas

Gillibrand

Senate (D) New York

Blackburn

Senate (R) Tennessee

Hyde-Smith

Senate (R) Mississippi

Van Hollen

Senate (D) Maryland

Peters

Senate (D) Michigan

Wicker

Senate (R) Mississippi

Latest Action

Read twice and referred to the Committee on Finance.

Sep 28, 2023