Disaster Zone Energy Affordability and Investment Act

This bill would change federal tax law so that certain businesses can sell to another taxpayer a portion of unused business tax credits they have carried forward from earlier years. The carried-forward credits must come from two specific credits already listed in that section of the tax code and be carried to tax years beginning after December 31, 2023. The amount that can be transferred cannot be more than what the business spent that year operating in a qualified disaster area. That spending must happen by the end of the second calendar year after the disaster declaration. Qualified disaster areas include those with a major disaster declared by the President, or a disaster declared by a state's Governor, after December 31, 2023.

Full text and official record on Congress.gov

Sponsors

• W. Gregory Steube Republican sponsor
• 35 cosponsors