Developers building affordable housing could use tax credits sooner to help finance projects.
This bill would let developers and investors who build affordable housing use certain tax credits sooner. Currently, they can't apply these tax credits to reduce past tax bills. This change could make it easier to finance new affordable housing projects by allowing them to get money back from previous tax years.
Today, developers and investors who earn low-income housing tax credits cannot use them to reduce tax bills from previous years. If this bill becomes law, they would be able to carry back unused credits for up to five years, allowing them to apply them to past tax liabilities.
S 5366 · 119th Congress · AI Summary by gemini-2.5-flash · 8/10
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