Affordable Housing Credit Carryback Act

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

Full text and official record on Congress.gov

Sponsors

• Ruben Gallego Democrat sponsor
• 1 cosponsors