To amend the Internal Revenue Code of 1986 to allow 5-year carrybacks for the low-income housing tax credit.
Sponsored by Carey, Mike (Republican-OH-15) · House · Introduced May 22, 2026
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Plain-English Summary (AI-assisted)
This bill would modify tax law to allow developers and investors in low-income housing projects to carry back unused housing tax credits for five years instead of the current rules. This change would let them apply credits retroactively to reduce taxes owed in prior years.
Legislative Status Timeline
Introduced
May 22, 2026
In Committee
May 22, 2026
Passed House
Pending
Passed Senate
Pending
Presidential Action
Pending
Sponsor
Carey, Mike
Independent · OH-15
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