,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #ajchj  ,,9 ,,! ,,h\se ,,(         
,,repres5tatives  ,decemb] #ab1         
#bjbd,mr4 ,/eube 7= himself1 ,mr4       
,bu*anan1 ,mr4 ,murphy1 ,mr4 ,timmons1 &
 ,mr4 ,hudson7 introduc$ ! foll[+ bill2 
:i* 0 ref]r$ to ! ,committee on ,ways & 
,means  ,a ,,bill  ,to am5d ! ,int]nal  
,rev5ue ,code ( #aihf to all[ a portion 
( g5]al bus9ess cr$it c>ry=w>ds to be   
transf]r$ by c]ta9 taxpay]s affect$ by  
,f$]ally decl>$ disa/]s4  #a4 ,%ort     
title ,?is ,act may be cit$ z ! ,disa/] 
,relief & ,resili5ce ,act4  #b4 ,c]ta9  
c>ry=w>ds ( g5]al bus9ess cr$it treat$ z
 transf]rable cr$its = taxpay]s affect$ 
by f$]ally decl>$ disa/]s 9 #bjbd  7a7  
,9 g5]al ,= purposes ( section #fdah ( !
 ,int]nal ,rev5ue ,code ( #aihf1 not)/&+
 subsection 7f77#a77;,c7 !re(1 s mu* ( !
 am\nt ( ! applicable g5]al bus9ess     
cr$it c>ry=w>ds z does n exce$ !        
eligible exp5ditures made by ! taxpay]  
dur+ ! taxable ye> %all be treat$ z an  
eligible cr$it4  7b7 ,applicable g5]al  

bus9ess cr$it c>ry=w>ds ,= purposes (   
?is section1 ! t]m applicable g5]al     
bus9ess cr$it c>ry=w>ds means1 ) respect
 to any taxable ye>1 ! sum ( ! am\nts   
describ$ 9 section #ch7;a77#a7 ( !      
,int]nal ,rev5ue ,code ( #aihf :i*--    
7#a7 are c>ri$ to any taxable ye> beg9n+
 aft] ,decemb] #ca1 #bjbc1 &  7#b7      
attributable to any cr$it describ$ 9    
clauses 7ii7 & 7ix7 ( section           
#fdah7;f77#a77;,a7 ( su* ,code4  7c7    
,eligible exp5ditures ,= purposes ( ?is 
section-- 7#a7 ,9 g5]al ,! t]m eligible 
exp5ditures means exp5ses by ! taxpay]  
:i* are paid or incurr$ be=e ,janu>y #a1
 #bjbh1 = ! purpose ( c>ry+ out a trade 
or bus9ess 9 a qualifi$ disa/] area4    
7#b7 ,qualifi$ disa/] area ,! t]m       
qualifi$ disa/] area means any area )   
respect to :i* a major disa/] 0 decl>$  
aft] ,decemb] #ca1 #bjbc1 & be=e ! date 
( ! enactm5t ( ?is ,act by ! ,presid5t  
"u section #dja ( ! ,rob]t ,t4 ,/af=d   
,disa/] ,relief & ,em]g5cy ,assi/ance   
,act4  7#c7 ,application to consolidat$ 

gr\ps ,all memb]s ( an affiliat$ gr\p   
fil+ a consolidat$ return %all be treat$
 z "o taxpay]4  7#d7 ,no regi/ration    
requir$ ,not)/&+ section #fdah7;g77#a7 (
 ! ,int]nal ,rev5ue ,code ( #aihf1 !    
,secret>y ( ! ,treasury 7or !           
,secret>y's delegate7 %all n require    
regi/ration ) respect to ! portion ( any
 applicable g5]al bus9ess cr$it         
c>ry=w>ds :i* relates to a taxable ye>  
beg9n+ ) or be=e ! mo/ rec5t taxable ye>
 = :i* ! taxpay] has execut$ a ,rev5ue  
,ag5t ,report 7includ+ ,=m #dedi 7relat+
 to income tax exam9ation *anges7 or any
 simil> =m74