Affordable housing developers could use unused tax credits to lower past tax bills.
This bill would help affordable housing developers. It would let them use unused tax credits from the current year to lower their past tax bills. This change could give them more financial flexibility and help build or maintain more affordable homes.
Today, developers who build affordable housing cannot use unused low-income housing tax credits from the current year to reduce past tax bills. This bill would change a specific part of the tax code (Section 39(a)(3)) to allow a 5-year carryback for these unused credits. This is similar to how some oil and gas companies can use a different tax credit. This change would give affordable housing projects more financial flexibility.
HR 9012 · 119th Congress · May 22, 2026 · AI Summary by gemini-2.5-flash · 8/10
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