Lets businesses in disaster areas transfer certain tax credits to help with recovery costs.
This bill would let businesses in areas hit by major federal or state disasters transfer certain tax credits they've earned. This means companies trying to rebuild after a disaster could use these credits to cover eligible expenses or sell them to other taxpayers, helping with recovery costs.
Currently, businesses with general business credit carryforwards cannot explicitly transfer a portion of these credits, even if they are in a disaster area and need funds for recovery. This limits their ability to quickly access the value of these credits. If this bill becomes law, businesses in areas hit by federal or state disasters after December 31, 2023, would be able to transfer a portion of their clean electricity production credit and clean hydrogen production credit carryforwards. This would provide a new way for them to get financial relief for eligible rebuilding costs incurred on or before the last day of the second calendar year following the calendar year of the disaster declaration.
HR 7450 · 119th Congress · February 9, 2026 · AI Summary by gemini-2.5-flash · 8/10
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21 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.