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HR7450119th CongressWALLET

Disaster Zone Energy Affordability and Investment Act

Sponsored By: Representative Steube, W. Gregory [R-FL-17]

Introduced

Summary

Transferable business tax credits for disaster-affected firms. This bill would let businesses in certain disaster areas convert part of their unused general business credit carryforwards into transferrable credits when they spend on running or rebuilding a trade or business in the disaster zone.

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  • Affected businesses would be able to transfer carryforwards up to the amount of their eligible disaster-area expenditures. Eligible spending must be paid or incurred by the last day of the second calendar year after the calendar year of the disaster declaration.
  • A "qualified disaster area" would include Presidential major disasters declared after Dec. 31, 2023, and state-declared disasters a governor determines were caused by incidents after Dec. 31, 2023.
  • All members of a consolidated affiliated group would be treated as one taxpayer for these transfers. The bill also bars the Treasury from requiring online registration for carryforwards tied to taxable years beginning with or before the year the registration tool is updated.

The changes would apply to taxable years ending after enactment of the act.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Transferable tax credits for disaster businesses

If enacted, taxpayers that run a trade or business in a declared disaster area would be able to transfer part of certain general business tax-credit carryforwards. The transferable amount would be limited to the lesser of (A) your applicable general business credit carryforwards from credits carried to years beginning after December 31, 2023, and (B) eligible expenditures you paid or incurred for business activity in the qualified disaster area during the taxable year. Eligible expenditures must be paid or incurred on or before the last day of the second calendar year after the year the major disaster declaration or State determination was made. All members of a consolidated affiliated group would be treated as one taxpayer. The rule would apply to taxable years ending after the date of enactment, and the Treasury would not require online registration for older carryforwards until its registration tool is updated to handle these rules.

Sponsors & CoSponsors

Sponsor

Steube, W. Gregory [R-FL-17]

FL • R

Cosponsors

  • Rep. Murphy, Gregory F. [R-NC-3]

    NC • R

    Sponsored 2/9/2026

  • Rep. Buchanan, Vern [R-FL-16]

    FL • R

    Sponsored 2/9/2026

  • Rep. DelBene, Suzan K. [D-WA-1]

    WA • D

    Sponsored 2/9/2026

  • Rep. Sewell, Terri A. [D-AL-7]

    AL • D

    Sponsored 2/9/2026

  • Rep. Hudson, Richard [R-NC-9]

    NC • R

    Sponsored 2/9/2026

  • Rep. Edwards, Chuck [R-NC-11]

    NC • R

    Sponsored 2/9/2026

  • Rep. Soto, Darren [D-FL-9]

    FL • D

    Sponsored 2/9/2026

  • Rep. Moskowitz, Jared [D-FL-23]

    FL • D

    Sponsored 2/9/2026

  • Rep. Harrigan, Pat [R-NC-10]

    NC • R

    Sponsored 2/9/2026

  • Rep. Bean, Aaron [R-FL-4]

    FL • R

    Sponsored 2/12/2026

  • Rep. Valadao, David G. [R-CA-22]

    CA • R

    Sponsored 2/20/2026

  • Rep. LaLota, Nick [R-NY-1]

    NY • R

    Sponsored 2/23/2026

  • Rep. Franklin, Scott [R-FL-18]

    FL • R

    Sponsored 3/3/2026

  • Rep. Miller, Carol D. [R-WV-1]

    WV • R

    Sponsored 3/3/2026

  • Rep. Mast, Brian J. [R-FL-21]

    FL • R

    Sponsored 3/4/2026

  • Rep. Dunn, Neal P. [R-FL-2]

    FL • R

    Sponsored 3/18/2026

  • Rep. Salazar, Maria Elvira [R-FL-27]

    FL • R

    Sponsored 3/26/2026

  • Rep. Bilirakis, Gus M. [R-FL-12]

    FL • R

    Sponsored 3/26/2026

  • Rep. Wilson, Frederica S. [D-FL-24]

    FL • D

    Sponsored 3/26/2026

  • Rep. Haridopolos, Mike [R-FL-8]

    FL • R

    Sponsored 4/9/2026

  • Rep. Lawler, Michael [R-NY-17]

    NY • R

    Sponsored 4/9/2026

  • Rep. Moore, Tim [R-NC-14]

    NC • R

    Sponsored 4/9/2026

  • Rep. Lee, Laurel M. [R-FL-15]

    FL • R

    Sponsored 4/9/2026

  • Rep. Webster, Daniel [R-FL-11]

    FL • R

    Sponsored 4/27/2026

  • Rep. Davis, Donald G. [D-NC-1]

    NC • D

    Sponsored 4/27/2026

  • Rep. Diaz-Balart, Mario [R-FL-26]

    FL • R

    Sponsored 4/27/2026

  • Rep. Kustoff, David [R-TN-8]

    TN • R

    Sponsored 4/29/2026

  • Rep. Moore, Blake D. [R-UT-1]

    UT • R

    Sponsored 5/11/2026

  • Rep. Garbarino, Andrew R. [R-NY-2]

    NY • R

    Sponsored 5/21/2026

  • Rep. Gimenez, Carlos A. [R-FL-28]

    FL • R

    Sponsored 5/29/2026

  • Rep. Kiggans, Jennifer A. [R-VA-2]

    VA • R

    Sponsored 6/29/2026

  • Rep. Patronis, Jimmy [R-FL-1]

    FL • R

    Sponsored 6/29/2026

  • Rep. Foxx, Virginia [R-NC-5]

    NC • R

    Sponsored 9/8/2026

  • Rep. Wasserman Schultz, Debbie [D-FL-25]

    FL • D

    Sponsored 9/16/2026

  • Rep. Comer, James [R-KY-1]

    KY • R

    Sponsored 9/28/2026

Roll Call Votes

No roll call votes available for this bill.

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