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S. 5366

U.S. Senate•In Senate Committee

Summary

S. 5366, the Affordable Housing Credit Carryback Act, was introduced in the Senate on Aug 7, 2026 by Sen. Ruben Gallego (D) with 1 co-sponsor. It was referred to Finance, and last saw action on Aug 7, 2026: Read twice and referred to the Committee on Finance.

Record

Text

S. 5366 has 1 co-sponsor.

sb5366/introduced-in-senate.txt
119 S5366 IS: Affordable Housing Credit Carryback Act
 U.S. Senate
 2026-08-07
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  2d Session  S. 5366  IN THE SENATE OF THE UNITED STATES   August 7, 2026   Mr. Gallego  (for himself and  Mr. Rounds ) introduced the following bill; which was read twice and referred to the  Committee on Finance    A BILL
To amend the Internal Revenue Code of 1986 to allow 5-year carrybacks for the low-income housing tax credit.
1.
Short title
This Act may be cited as the   Affordable Housing Credit Carryback Act  .
2.
5-year carryback for low-income housing tax credit
(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.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2026-08-07
  2. Passed Senate
  3. Passed House
  4. Conference
  5. To President
  6. Became Law

A bill to amend the Internal Revenue Code of 1986 to allow 5-year carrybacks for the low-income housing tax credit.

Sponsors

Sen. Ruben Gallego (D) sponsors S. 5366, and 1 member has co-sponsored it from the day it was introduced.

Committees

S. 5366 went before 1 committee: Finance.

Finance
Finance
Referred To · Aug 7, 2026 · 902 Bills

Actions

S. 5366 has taken 2 actions since Aug 7, 2026.

ChamberAction
Aug 7, 2026
Senate
Read twice and referred to the Committee on Finance.Finance Committee
Aug 7, 2026
—
Introduced in Senate

Votes

S. 5366 has not gone to a roll call.

1 bill is related to S. 5366, as Identical bill.

Titles

S. 5366 goes by 3 titles, 1 of them short titles.

  • Affordable Housing Credit Carryback Act — Display Title
  • Affordable Housing Credit Carryback Act — Short Title(s) as Introduced
  • A bill to amend the Internal Revenue Code of 1986 to allow 5-year carrybacks for the low-income housing tax credit. — Official Title as Introduced

Classification

The Congressional Research Service files S. 5366 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; S. 5366’s is Taxation.

s5366/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Source: congress.gov · legiscan.com