H.R. 3549
119th CONGRESS 1st Session
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 · Sponsor: Mr. Luttrell · Committee: Committee on Ways and Means
Table of contents
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 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.
specified taxpayer
- For purposes of this section, the term 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 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).
qualified disaster preparedness electric generator expenses
- The term 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 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.
high risk disaster area
- The term 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)—
- 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
- 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.
- In the case of any qualified disaster preparedness electric generator expenses with respect to which credit is allowed under subsection (a)—