I 
111TH CONGRESS 
1ST SESSION H. R. 2628 
To amend the Internal Revenue Code of 1986 to extend the new markets 
tax credit through 2013, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 21, 2009 
Mr. NEAL of Massachusetts (for himself and Mr. TIBERI) introduced the 
following bill; which was referred to the Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to extend 
the new markets tax credit through 2013, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘New Markets Tax 
Credit Extension Act of 2009’’. 
SEC. 2. EXTENSION OF NEW MARKETS TAX CREDIT. 
(a) EXTENSION.— 
(1) IN GENERAL.—Subparagraph (D) of section 
45D(f)(1) of the Internal Revenue Code of 1986 (re-
lating to national limitation on amount of invest-
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ments designated) is amended by striking ‘‘2009’’ 
and inserting ‘‘each of calendar years 2009 through 
2013’’. 
(2) 
CONFORMING
AMENDMENT.—Section 
45D(f)(3) of such Code is amended by striking 
‘‘2014’’ and inserting ‘‘2020’’. 
(b) INFLATION ADJUSTMENT.—Section 45D(f) of the 
Internal Revenue Code of 1986 is amended by inserting 
at the end the following new paragraph: 
‘‘(4) INFLATION ADJUSTMENT.— 
‘‘(A) IN GENERAL.—In the case of any cal-
endar year beginning after 2009, the dollar 
amount in paragraph (1)(f) shall be increased 
by an amount equal to— 
‘‘(i) such dollar amount, multiplied by 
‘‘(ii) the cost-of-living adjustment de-
termined under section 1(f)(3) for the cal-
endar year, determined by substituting 
‘calendar year 2008’ for ‘calendar year 
1992’ in subparagraph (B) thereof. 
‘‘(B) 
ROUNDING
RULE.—If 
a 
dollar 
amount in paragraph (1)(D), as increased 
under subparagraph (A), is not a multiple of 
$1,000,000, such amount shall be rounded to 
the nearest multiple of $1,000,000.’’. 
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(c) ALTERNATIVE MINIMUM TAX RELIEF.—Section 
38(c)(4)(B) of such Code is amended by redesignating 
clauses (v) through (viii) as clauses (vi) through (ix), re-
spectively, and by inserting after clause (iv) the following 
new clause: 
‘‘(v) the credit determined under sec-
tion 45D to the extent that such credit is 
attributable to a qualified equity invest-
ment which is designated as such under 
section 45D(b)(1)(C) pursuant to an allo-
cation of the new markets tax credit limi-
tation for calendar year 2009,’’. 
(d) EFFECTIVE DATES.— 
(1) IN GENERAL.—The amendments made by 
this section shall take effect on the date of the en-
actment of this Act. 
(2) SUBSECTION (c).—The amendments made 
by subsection (c) 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. 
Æ 
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