“Section 23(c)(1) is amended by striking "credit allowable under subsection (a)" and inserting "portion of the credit allowable under subsection (a) which is allowed under this subpart".”
The section narrows section 23(c)(1) of the Internal Revenue Code of 1986 so that only the part of the credit allowed under that subpart may be carried forward, leaving the refundable part out.
What the document actually says
“Section 23(c)(1) is amended by striking "credit allowable under subsection (a)" and inserting "portion of the credit allowable under subsection (a) which is allowed under this subpart".”
That sentence, in plain words
A phrase is taken out of a tax rule. A narrower phrase is put in.
What this is about
The rule lets unused credit be carried forward. Only the non-refundable part may be. The refundable part is paid out instead.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Provide for reconciliation pursuant to title II of H. Con. Res. 14, Public Law 119-21, sec. 70402, 139 Stat. 213 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm
This page
“The refundable part is kept out of the carryforward,” Provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70402, Sec. 70402. Read the Mandate, https://readthemandate.org/pl-119-21/proposal/sec70402-carryforward/ (retrieved October 10, 2026).
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