119 HR 9012 IH: Affordable Housing Credit Carryback Act U.S. House of Representatives 2026-05-22 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I119th CONGRESS2d SessionH. R. 9012IN THE HOUSE OF REPRESENTATIVESMay 22, 2026Mr. Carey (for himself and Mr. Panetta) introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo amend the Internal Revenue Code of 1986 to allow 5-year carrybacks for the low-income housing tax credit.

1.

Short title

This Act may be cited as the Affordable Housing Credit Carryback Act.

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.