Businesses in disaster areas could transfer unused tax credits to help with recovery.
This bill would let businesses affected by major disasters transfer certain unused tax credits. Companies trying to rebuild after a federal or state disaster could get cash for credits they can't use themselves, helping them recover faster.
Today, businesses affected by federal or state disasters cannot transfer their general business credit carryforwards. This bill would allow businesses in qualified disaster areas to transfer a portion of these credits, up to the amount they spend on eligible recovery efforts, giving them a way to get value from unused credits.
S 3605 · 119th Congress · January 8, 2026 · AI Summary by gemini-2.5-flash · 8/10
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26 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.