Affordable Housing Credit Carryback Act

This bill changes federal tax law so that unused low-income housing tax credits can be carried back to earlier tax years, up to 5 years. Under current law, this 5-year carryback treatment applies to the marginal oil and gas well production credit. The bill adds the low-income housing tax credit under section 42 to that same rule. The change would apply to tax years beginning after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Mike Carey Republican sponsor
• 6 cosponsors