HR 10380
Disaster Relief and Resilience Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Disaster Relief and Resilience Act, allows businesses that have suffered losses due to federally declared disasters to transfer a portion of their existing business tax credits to offset expenses incurred in response to those disasters. Specifically, it enables taxpayers to move certain unused business tax credits forward to future years, provided they spent those credits on eligible expenses within a designated ‘qualified disaster area’. The bill aims to provide financial relief to businesses impacted by disasters, encouraging them to rebuild and recover.
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Primary sponsor
Cosponsors
William R. Timmons
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