What does MODIFICATION OF RULES FOR HIGH MIGRATION RURAL COUNTIES UNDER of Norma Ruth Criswell Carpenter & Clovis C. Criswell Grant Parish Restoration Act of 2026 do?

This section modifies rules for high migration rural counties under the New Markets Tax Credit. Section 45D(e)(5)(B) of the Internal Revenue Code of 1986 is amended. The amendment excludes individuals included in the institutionalized group quarters population (as defined by the Bureau of the Census) when determining eligibility. The amendment applies to investments made after the date of enactment of this Act.

What does SPECIAL NEW MARKETS TAX CREDIT RULE FOR COUNTIES IN WHICH THE of Norma Ruth Criswell Carpenter & Clovis C. Criswell Grant Parish Restoration Act of 2026 do?

This section amends Section 45D(e) of the Internal Revenue Code of 1986. The amendment introduces a new rule for low-income communities within counties where the federal government owns a significant portion of land. For qualifying census tracts, the required low-income percentage is reduced from 20 percent to 15 percent. Land used as a military installation and federal lands held in trust for Native Americans are excluded when calculating federal land ownership. The amendment applies to investments made after December 31, 2025.

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Norma Ruth Criswell Carpenter & Clovis C. Criswell Grant Parish Restoration Act of 2026

Q: What does Preamble of Norma Ruth Criswell Carpenter & Clovis C. Criswell Grant Parish Restoration Act of 2026 do?

This bill proposes to amend the Internal Revenue Code of 1986. The stated purpose of the bill is to expand the new markets tax credit.

Q: What does SHORT TITLE. of Norma Ruth Criswell Carpenter & Clovis C. Criswell Grant Parish Restoration Act of 2026 do?

This bill is formally titled the Norma Ruth Criswell Carpenter & Clovis C. Criswell Grant Parish Restoration Act of 2026.

Last updated: 5/20/2026 · Introduced: 5/20/2026

Author: Bill Cassidy (R-LA)

TL;DR (AI)

The bill expands the New Markets Tax Credit by modifying eligibility rules to exclude individuals in institutionalized group quarters when determining eligibility for high migration rural counties.
It establishes a special tax credit rule for low-income communities within counties with substantial federal land ownership, reducing the required low-income percentage from 20% to 15% for qualifying census tracts.
The bill applies these changes to investments made after specific dates, December 31, 2025, and the date of enactment, respectively.

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Includes provisions on preamble, short title., and 2 more.

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