Allows 5-year carrybacks for the low-income housing tax credit.
The Affordable Housing Credit Carryback Act amends the Internal Revenue Code to allow a 5-year carryback for the low-income housing tax credit. This change applies to taxable years beginning after the date of enactment of this Act. The bill modifies section 39(a)(3) to include the low-income housing tax credit in the list of credits eligible for carryback.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.