Introduced in House

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9012 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                                H. R. 9012

 To amend the Internal Revenue Code of 1986 to allow 5-year carrybacks 
                 for the low-income housing tax credit.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 22, 2026

Mr. Carey (for himself and Mr. Panetta) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to allow 5-year carrybacks 
                 for the low-income housing tax credit.

    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 ``Affordable Housing Credit Carryback 
Act''.

SEC. 2. 5-YEAR CARRYBACK FOR LOW-INCOME HOUSING TAX CREDIT.

    (a) In General.--Section 39(a)(3) of the Internal Revenue Code of 
1986 is amended--
            (1) in the heading, by striking `` marginal oil and gas 
        well production credit'' and inserting ``certain credits'',
            (2) by inserting ``or the low-income housing tax credit 
        allowed under section 42'' after ``well production credit'' in 
        the matter preceding subparagraph (A), and
            (3) in subparagraph (A), by inserting ``or the low-income 
        housing tax credit, as applicable'' after ``well production 
        credit''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
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