S. 4584 — Norma Ruth Criswell Carpenter & Clovis C. Criswell Grant Parish Restoration Act of 2026

This section modifies the population count used to determine high migration rural counties under the new markets tax credit by excluding individuals in institutionalized group quarters. The change applies to investments made after the date of enactment.

This section expands eligibility for the new markets tax credit in population census tracts located in counties where at least 30 percent of the land is federally owned on December 31, 2025 (excluding military installations and lands held in trust for tribes). It lowers the poverty rate threshold for designation as a low-income community to 15 percent (from 20 percent). The change applies to investments made after December 31, 2025.