Disaster Relief and Resilience Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 10380 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 10380 To amend the Internal Revenue Code of 1986 to allow a portion of general business credit carryforwards to be transferred by certain taxpayers affected by Federally declared disasters. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES December 12, 2024 Mr. Steube (for himself, Mr. Buchanan, Mr. Murphy, Mr. Timmons, and Mr. Hudson) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to allow a portion of general business credit carryforwards to be transferred by certain taxpayers affected by Federally declared disasters. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Disaster Relief and Resilience Act''. SEC. 2. CERTAIN CARRYFORWARDS OF GENERAL BUSINESS CREDIT TREATED AS TRANSFERRABLE CREDITS F…