H.R. 3549

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3549 Introduced in House (IH)]

<DOC>

119th CONGRESS
1st Session
H. R. 3549

To amend the Internal Revenue Code of 1986 to provide critical 
businesses with a tax credit for electric generators placed in service 
in certain high risk disaster areas.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

May 21, 2025

Mr. Luttrell 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 provide critical 
businesses with a tax credit for electric generators placed in service 
in certain high risk disaster areas.

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 ``Critical Businesses Preparedness 
Act''.

SEC. 2. CREDIT FOR ELECTRIC GENERATORS PLACED IN SERVICE BY CRITICAL 
BUSINESSES IN HIGH RISK DISASTER AREAS.

(a) In General.--Subpart D of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by adding at the end 
the following new section:

``SEC. 45BB. CREDIT FOR ELECTRIC GENERATORS PLACED IN SERVICE BY 
CRITICAL BUSINESSES IN HIGH RISK DISASTER AREAS.

``(a) In General.--For purposes of section 38, in the case of a 
specified taxpayer, the qualified disaster preparedness electric 
generator expenses credit for any taxable year is an amount equal to 30 
percent of the qualified disaster preparedness electric generator 
expenses paid or incurred by the taxpayer during such taxable year.
``(b) Specified Taxpayer.--For purposes of this section, the term 
`specified taxpayer' means any person engaged in a trade or business 
that is determined by the Secretary, after consultation with the 
Administrator of the Federal Emergency Management Agency, as being a 
trade or business that is critical in the aftermath of a flood or 
hurricane. Such trades or businesses shall not fail to include 
hospitals, nursing homes, grocery stores, and gas stations.
``(c) Qualified Disaster Preparedness Electric Generator 
Expenses.--For purposes of this section--
``(1) In general.--The term `qualified disaster 
preparedness electric generator expenses' means, with respect 
to any specified taxpayer, any amount paid or incurred by such 
taxpayer for an electric generator (including costs of 
installation) placed in service in a high risk disaster area 
and used in a trade or business referred to in subsection (b).
``(2) High risk disaster area.--The term `high risk 
disaster area' means any area determined by the Secretary, 
after consultation with the Administrator of the Federal 
Emergency Management Agency, as being an area that is at high 
risk of flooding or hurricanes.
``(d) Denial of Double Benefit.--In the case of any qualified 
disaster preparedness electric generator expenses with respect to which 
credit is allowed under subsection (a)--
``(1) no deduction or credit shall be allowed for, or by 
reason of, any such expense to the extent of the amount of such 
credit, and
``(2) the basis of any property shall be reduced by the 
amount of such credit to the extent that such expenses were 
taken into account in determining such basis.''.
(b) Credit To Be Part of General Business Credit.--Section 38(b) of 
such Code is amended by striking ``plus'' at the end of paragraph (40), 
by striking the period at the end of paragraph (41) and inserting ``, 
plus'', and by adding at the end the following new paragraph:
``(42) in the case of a specified taxpayer (as defined in 
section 45BB(b)), the qualified disaster preparedness electric 
generator expenses credit determined under section 45BB(a).''.
(c) Clerical Amendment.--The table of sections for subpart D of 
part IV of subchapter A of chapter 1 of such Code is amended by adding 
at the end the following new item:

``Sec. 45BB. Credit for electric generators placed in service by 
critical businesses in high risk disaster 
areas.''.
(d) Effective Date.--The amendments made by this section shall 
apply to amounts paid or incurred after the date of the enactment of 
this Act.
<all>