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Norma Ruth Criswell Carpenter & Clovis C. Criswell Grant Parish Restoration Act of 2026
To amend the Internal Revenue Code of 1986 to expand the new markets tax credit, and for other purposes.
Summary
The Norma Ruth Criswell Carpenter & Clovis C. Criswell Grant Parish Restoration Act of 2026 amends the Internal Revenue Code to modify the new markets tax credit, an incentive for investments in low-income communities. The bill excludes institutionalized populations from population counts used to determine eligibility for the tax credit in rural counties experiencing high migration. It also lowers the low-income population threshold from 20 percent to 15 percent for census tracts in counties where the federal government owns at least 30 percent of the land, excluding military installations and tribal trust lands. These changes are intended to expand access to the tax credit for communities in certain rural areas.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Cassidy, Bill [R-LA] (R-LA)
Money behind the sponsor
Top reported contributors to Bill Cassidy’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- ANDREESSEN HOROWITZ $59,100
- GENERAL ATLANTIC $37,700
- WELSH CARSON ANDERSON & STOWE $33,870
- OCHSNER HEALTH SYSTEM $33,250
- RA CAPITAL MANAGEMENT $30,200
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Bill Cassidy → · Outside spending →
Actions (2)
- May 20, 2026 Read twice and referred to the Committee on Finance. · senate
- May 20, 2026 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
May 20, 2026
Mr. Cassidy introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to expand the new markets tax credit, and for other purposes.
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 “Norma Ruth Criswell Carpenter & Clovis C. Criswell Grant Parish Restoration Act of 2026”.
SEC. 2. MODIFICATION OF RULES FOR HIGH MIGRATION RURAL COUNTIES UNDER NEW MARKETS TAX CREDIT.
(a) In General.—Section 45D(e)(5)(B) of the Internal Revenue Code of 1986 is amended by inserting, “determined without regard to individuals included in the institutionalized group quarters population (as defined by the Bureau of the Census in such census)” before the period at the end.
(b) Effective Date.—The amendment made by this section shall apply to investments made after the date of the enactment of this Act.
SEC. 3. SPECIAL NEW MARKETS TAX CREDIT RULE FOR COUNTIES IN WHICH THE FEDERAL GOVERNMENT OWNS A LARGE PORTION OF LAND.
(a) In General.—Section 45D(e) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
“(6) Low-income communities with population densities suppressed by uninhabited federal lands.—
“(A) In general.—In the case of any population census tract located in a county in which not less than 30 percent of the land is owned by the Federal Government on December 31, 2025, paragraph (1)(A) shall be applied by substituting ‘15 percent’ for ‘20 percent’.
“(B) Treatment of military installations.—For purposes of this paragraph, land used as a military installation shall not be treated as land owned by the Federal Government.
“(C) Treatment of federal lands held in trust for tribes.—For purposes of this paragraph, land owned by the Federal Government and held in trust for Native Americans shall not be treated as land owned by the Federal Government.”.
(b) Effective Date.—The amendment made by this section shall apply to investments made after December 31, 2025. <all>
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