This bill, titled the "Critical Businesses Preparedness Act," proposes to amend the Internal Revenue Code of 1986 by creating a new tax credit for certain businesses. This credit, equal to 30 percent of qualified expenses, is designed to incentivize the installation of electric generators by businesses deemed critical in the aftermath of natural disasters. Qualified expenses include the cost of the generator and its installation, provided it is placed in service in a designated high-risk disaster area. A "specified taxpayer" eligible for this credit is defined as a trade or business determined by the Secretary of the Treasury, in consultation with the Federal Emergency Management Agency (FEMA), to be critical after a flood or hurricane; examples include hospitals, nursing homes, grocery stores, and gas stations. A "high risk disaster area" is similarly determined by the Secretary and FEMA as an area prone to flooding or hurricanes. The bill also includes provisions to prevent double benefits, stating that no other deduction or credit will be allowed for expenses for which this credit is claimed, and the basis of any property must be reduced by the credit amount. This new credit will be incorporated into the general business credit and will apply to amounts paid or incurred after the date of the Act's enactment.