Affordable Housing Credit Carryback Act

Mike Carey

Republican · OH · Representative

Source: Congress.gov · FEC

• Jimmy Panetta (D-CA-19)Original· 2026-05-22

Referred to the House Committee on Ways and Means.

2026-05-22

Source: Congress.gov

The proposal would let developers and investors who build affordable housing claim tax credits for up to five years after they initially qualify, rather than having to use them immediately. This change would give housing developers more flexibility in managing their taxes and potentially make it easier for them to finance affordable housing projects. The measure is currently under review by the House Committee on Ways and Means.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

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

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