Source: http://taxtv.com/code/00057-USCODE-2011-title26-subtitleA-chap1-subchapA-partIV-subpartD-sec45D/
Timestamp: 2017-10-24 04:14:11
Document Index: 65342304

Matched Legal Cases: ['§45', '§45', '§1', '§121', '§221', '§102', '§302', '§1403', '§733', '§733', '§733', '§1403', '§102', '§221', '§733', '§102', '§221', '§223', '§1', '§121', '§1403', '§1', '§121', '§1', '§121']

IRC §45D. New markets tax credit - TaxTV.com
IRC §45D. New markets tax credit
(A) any stock (other than nonqualified preferred stock as defined in section 3 (g)(2)) in an entity which is a corporation, and
(F) $5,000,000,000 for 2009 1
(G) $3,500,000,000 for 2010 and 2011.
If the new markets tax credit limitation for any calendar year exceeds the aggregate amount allocated under paragraph (2) for such year, such limitation for the succeeding calendar year shall be increased by the amount of such excess. No amount may be carried under the preceding sentence to any calendar year after 2016.
The basis of any qualified equity investment shall be reduced by the amount of any credit determined under this section with respect to such investment. This subsection shall not apply for purposes of sections 1202, 1400B, and 1400F.
(Added Pub. L. 106–554, §1(a)(7) [title I, §121(a)], Dec. 21, 2000, 114 Stat. 2763, 2763A–605; amended Pub. L. 108–357, title II, §§221(a), (b), 223(a), Oct. 22, 2004, 118 Stat. 1431, 1432; Pub. L. 109–432, div. A, title I, §102(a), (b), Dec. 20, 2006, 120 Stat. 2934; Pub. L. 110–343, div. C, title III, §302, Oct. 3, 2008, 122 Stat. 3866; Pub. L. 111–5, div. B, title I, §1403(a), Feb. 17, 2009, 123 Stat. 352; Pub. L. 111–312, title VII, §733(a), (b), Dec. 17, 2010, 124 Stat. 3317, 3318.)
2010—Subsec. (f)(1)(G). Pub. L. 111–312, §733(a), added subpar. (G).
Subsec. (f)(3). Pub. L. 111–312, §733(b), substituted “2016” for “2014”.
2009—Subsec. (f)(1)(D). Pub. L. 111–5, §1403(a)(2), substituted “and 2007,” for “, 2007, 2008, and 2009.”
2008—Subsec. (f)(1)(D). Pub. L. 110–343 substituted “2008, and 2009” for “and 2008”.
2006—Subsec. (f)(1)(D). Pub. L. 109–432, §102(a), substituted “, 2007, and 2008” for “and 2007”.
2004—Subsec. (e)(2). Pub. L. 108–357, §221(a), amended heading and text of par. (2) generally, substituting provisions relating to regulations under which 1 or more targeted populations could be treated as low-income communities for provisions authorizing Secretary to designate any area within any census tract as a low-income community if certain conditions were met.
Pub. L. 111–312, title VII, §733(c), Dec. 17, 2010, 124 Stat. 3318, provided that: “The amendments made by this section [amending this section] shall apply to calendar years beginning after 2009.”
Pub. L. 109–432, div. A, title I, §102(c), Dec. 20, 2006, 120 Stat. 2934, provided that: “The amendments made by this section [amending this section] shall take effect on the date of the enactment of this Act [Dec. 20, 2006].”
Pub. L. 108–357, title II, §221(c), Oct. 22, 2004, 118 Stat. 1431, provided that:
“(1) Targeted areas.—The amendment made by subsection (a) [amending this section] shall apply to designations made by the Secretary of the Treasury after the date of the enactment of this Act [Oct. 22, 2004].
“(2) Tracts with low population.—The amendment made by subsection (b) [amending this section] shall apply to investments made after the date of the enactment of this Act [Oct. 22, 2004].”
Pub. L. 108–357, title II, §223(b), Oct. 22, 2004, 118 Stat. 1432, provided that: “The amendment made by this section [amending this section] shall take effect as if included in the amendment made by section 121(a) of the Community Renewal Tax Relief Act of 2000 [Pub. L. 106–554, §1(a)(7) [title I, §121(a)], enacting this section].”
Pub. L. 111–5, div. B, title I, §1403(b), Feb. 17, 2009, 123 Stat. 352, provided that: “The amount of the increase in the new markets tax credit limitation for calendar year 2008 by reason of the amendments made by subsection (a) [amending this section] shall be allocated in accordance with section 45D(f)(2) of the Internal Revenue Code of 1986 to qualified community development entities (as defined in section 45D(c) of such Code) which—
“(1) submitted an allocation application with respect to calendar year 2008, and
Pub. L. 106–554, §1(a)(7) [title I, §121(f)], Dec. 21, 2000, 114 Stat. 2763, 2763A–610, provided that: “Not later than 120 days after the date of the enactment of this Act [Dec. 21, 2000], the Secretary of the Treasury or the Secretary’s delegate shall issue guidance which specifies—
Pub. L. 106–554, §1(a)(7) [title I, §121(g)], Dec. 21, 2000, 114 Stat. 2763, 2763A–610, provided that: “Not later than January 31 of 2004, 2007, and 2010, the Comptroller General of the United States shall, pursuant to an audit of the new markets tax credit program established under section 45D of the Internal Revenue Code of 1986 (as added by subsection (a)), report to Congress on such program, including all qualified community development entities that receive an allocation under the new markets credit under such section.”
1 So in original. Probably should be followed by “, and”.