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S. 4584119th CongressIn committeeLatest action May 20, 2026Decoded by AI · checked against the record
Official title: Norma Ruth Criswell Carpenter & Clovis C. Criswell Grant Parish Restoration Act of 2026
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
S 4584 changes who qualifies for the New Markets Tax Credit in rural and federally land-heavy counties.
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S 4584 modifies the New Markets Tax Credit, a federal program that gives investors tax credits for funding businesses in low-income communities. The bill excludes institutionalized residents such as prisoners and nursing home occupants from poverty rate calculations in qualifying rural counties. It also lowers the poverty rate threshold from 20 percent to 15 percent for communities in counties where the federal government owns at least 30 percent of the land.
The changes directly affect investors, businesses, and residents in rural counties with population loss and in counties with heavy federal land ownership. Land held for military bases or in trust for Native American tribes does not count toward the 30 percent federal ownership threshold.
Excluding institutionalized residents from poverty counts could shift which rural areas meet the eligibility threshold for the tax credit. Lowering the poverty threshold for federally land-heavy counties could expand the number of census tracts that qualify under the program.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Read twice and referred to the Committee on Finance.