,,ii  #aai? ,,congress  #b;d ,session   
,s4 #cfje  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,janu>y #h 7legislative
 day1 ,janu>y #g71 #bjbf,mr4 ,graham 7= 
himself & ,ms4 ,cantwell7 introduc$ !   
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,f9ance  ,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/]s & o!r incid5ts4  #a4 ,%ort title
 ,?is ,act may be cit$ z ! ,disa/] ,zone
 ,en]gy ,af=dability & ,inve/m5t ,act4  
#b4 ,c]ta9 c>ry=w>ds ( g5]al bus9ess    
cr$it treat$ z transf]rable cr$its =    
taxpay]s affect$ by c]ta9 disa/]s  7a7  
,9 g5]al ,section #fdah7;f77#a77;,a7 ( !
 ,int]nal ,rev5ue ,code ( #aihf is am5d$
 by add+ at ! end ! foll[+ new clause3  
7xiii7 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>4  4  7b7     
,applicable g5]al bus9ess cr$it         

c>ry=w>ds ,section #fdah7;f7 ( su* ,code
 is am5d$ by add+ at ! end ! foll[+ new 
p>agraph3  7#c7 ,def9itions & rules     
relat$ to applicable g5]al bus9ess cr$it
 c>ry=w>ds ,= purposes ( p>agraph       
7#a77;,a77xiii7--  7,a7  ,9 g5]al  ,!   
t]m applicable g5]al bus9ess cr$it      
c>ry=w>ds means1 ) respect to any       
taxable ye>1 ! sum ( ! am\nts describ$ 9
 section #ch7;a77#a7 :i*--  7i7 are     
c>ri$ to any taxable ye> beg9n+ aft]    
,decemb] #ca1 #bjbc1 &  7ii7            
attributable to any cr$it describ$ 9    
clauses 7ii7 & 7ix7 ( subp>agraph 7,a74 
7,b7  ,eligible exp5ditures  7i7  ,9    
g5]al  ,! t]m eligible exp5ditures means
 am\nts paid or incurr$ by ! taxpay]--  
7,i7 = ! purpose ( c>ry+ out a trade or 
bus9ess 9 a qualifi$ disa/] area1 &     
7,,ii7 on or be=e ! la/ day ( ! second  
cal5d> ye> foll[+ ! cal5d> ye> 9 :i* !  
decl>ation or det]m9ation describ$ 9    
clause 7ii7 ) respect to su* qualifi$   
disa/] area 0 made4  7ii7  ,qualifi$    
disa/] area  ,! t]m qualifi$ disa/] area

 means--  7,i7 any area ) respect to :i*
 a major disa/] 0 decl>$ aft] ,decemb]  
#ca1 #bjbc1 by ! ,presid5t "u section   
#dja ( ! ,rob]t ,t4 ,/af=d ,disa/]      
,relief & ,em]g5cy ,assi/ance ,act1 or  
7,,ii7 any area :i* is det]m9$ by !     
,gov]nor ( a ,/ate to be an area affect$
 by a ,/ate decl>$ disa/] 7z def9$ 9    
section #afe7;h77#e77;,c7 ( ! ,int]nal  
,rev5ue ,code ( #aihf 7z add$ by ,public
 ,law #aai-ba77 if ! incid5t giv+ rise  
to ! ,/ate decl>$ disa/] occurr$ aft]   
,decemb] #ca1 #bjbc4  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  4  7c7   
,con=m+ am5dm5t ,section                
#fdah7;f77#a77;,c7 ( su* ,code is am5d$ 
by /rik+ ,! t]m & ins]t+ ,except z      
provid$ 9 p>agraph 7#a77;,a77xiii71 !   
t]m4  7d7 ,effective date ,! am5dm5ts   
made by ?is section %all apply to       
taxable ye>s end+ aft] ! date ( !       
enactm5t ( ?is ,act4  7e7 ,special rule 
,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$it         
c>ry=w>ds 7z def9$ 9 section            
#fdah7;f77#c7 ( su* ,code1 z add$ by ?is
 section7 :i* relates to a taxable ye>  
beg9n+ ) or be=e ! taxable ye> t ! onl9e
 regi/ration tool = su* regi/ration has 
be5 updat$ to acc\nt = ! provisions (   
?is section4