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Full Text of this Amendment
At the end of subtitle C of title I, insert the following:
SEC. --. NEW MARKETS TAX CREDIT ALLOWABLE AGAINST ALTERNATIVE MINIMUM TAX.
(a) In General.--Subparagraph (B) of section 38(c)(4) is amended--
(1) by redesignating clauses (v) through (viii) as clauses (vi) through (ix), respectively, and
(2) by inserting after clause (iv) the following new clause:
"(v) the credit determined under section 45D to the extent that such credit is attributable to a qualified equity investment which is designated as such under subsection (b)(1)(C) of such section after the date of the enactment of the American Workers, State, and Business Relief Act of 2010.".
(b) Effective Date.--The amendment made by this section shall apply to credits determined under section 45D of the Internal Revenue Code of 1986 in taxable years ending after the date of the enactment of this Act, and to carrybacks of such credits.
(As printed in the Congressional Record for the Senate on Mar 4, 2010.)