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

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6646 Introduced in House (IH)]

<DOC>






118th CONGRESS
  1st Session
                                H. R. 6646

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 6, 2023

  Mr. Steube (for himself and Mr. Buchanan) 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 modify the order in which 
      the business credits are taken into account by corporations.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. MODIFICATION OF ORDER IN WHICH CORPORATIONS TAKE BUSINESS 
              CREDITS INTO ACCOUNT.

    (a) In General.--Section 38(c)(6)(E) of the Internal Revenue Code 
of 1986 is amended by adding ``and'' at the end of clause (i), by 
striking clauses (ii) and (iii), and by adding at the end the following 
new clause:
                            ``(ii) paragraphs (2) and (4) shall not 
                        apply.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years ending after the date of the enactment of this 
Act with respect to credits arising in taxable years ending before, on, 
or after such date.
                                 <all>