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This bill amends the Internal Revenue Code to allow a 5-year carryback for the low-income housing tax credit. Sec. 2, 5-year carryback for low-income housing tax credit: The bill modifies Section 39(a)(3) of the Internal Revenue Code to include the low-income housing tax credit under section 42 alongside the existing marginal oil and gas well production credit, allowing a 5-year carryback for this credit. The changes apply to taxable years beginning after the date the bill is enacted.
Summary of the bill text as introduced in House (May 22, 2026), generated by SecBot from the official bill text; the Library of Congress summary is not yet published.
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Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 28, 2026.