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Changes to Corporate Business Credit Order

This bill modifies how corporations apply their business tax credits. The aim is to streamline the process, potentially affecting the amount of taxes certain businesses pay. For citizens, this indirectly means potential shifts in the economy and employment, depending on how businesses respond to the new rules.
Key points
The bill amends the order in which corporations take business credits into account.
These changes apply to taxable years ending after the enactment date, including credits from prior years.
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Expired
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Additional Information
Print number: 118_HR_6646
Sponsor: Rep. Steube, W. Gregory [R-FL-17]
Process start date: 2023-12-06
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to modify the order in which the business credits are taken into account by corporations.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6646.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-12-06.

What are the main provisions?

Key points include:

  • The bill amends the order in which corporations take business credits into account.
  • These changes apply to taxable years ending after the enactment date, including credits from prior years.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Steube, W. Gregory [R-FL-17].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Economy