Affordable Housing Credit Carryback Act

This Act may be cited as the “Affordable Housing Credit Carryback Act”.

(a) In general.— Section 39(a)(3) of the Internal Revenue Code of 1986 is amended—

(1) in the heading, by striking “ marginal oil and gas well production credit” and inserting “certain credits”,

(2) by inserting “or the low-income housing tax credit allowed under section 42” after “well production credit” in the matter preceding subparagraph (A), and

(3) in subparagraph (A), by inserting “or the low-income housing tax credit, as applicable” after “well production credit”.

(b) Effective date.— The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.