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Affordable Housing Credit Carryback Act

S. 5366 Sen. Ruben Gallego (D-AZ) In committee
Bill text PDF
  1. Introduced Aug 7
  2. Committee Aug 7
  3. Passed Senate Next
  4. Passed House Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Aug 7, 2026Next: Senate vote
82d ago Aug 7, 2026: Read twice and referred to the Committee on Finance.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
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Summary

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 unused credits. The changes apply to taxable years beginning after the date the bill is enacted.

Summary of the bill text as introduced in Senate (Aug 7, 2026), generated by SecBot from the official bill text; the Library of Congress summary is not yet published.

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 28, 2026.