# 119-s-5366: Affordable Housing Credit Carryback Act

119-s-5366, Affordable Housing Credit Carryback Act, is a 119th Congress bill sponsored by Sen. Gallego, Ruben [D-AZ] (D-AZ); status introduced; PRIA reads it as touching household money (as of 2026-08-26).

- Canonical: https://policyrisk.com/legislation/119-s-5366
- As of: 2026-08-26
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-5366
- Congress: 119
- Title: Affordable Housing Credit Carryback Act
- Status: introduced
- Introduced: 2026-08-07
- Sponsor: Sen. Gallego, Ruben [D-AZ] (D-AZ)
- Cosponsors: 1
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-08-26

## Summary

**Lets the low-income housing tax credit be carried back up to five years under the general business credit rules.** The bill would amend Internal Revenue Code section 39(a)(3) to add the credit allowed under section 42 to the list of credits eligible for a five-year carryback, so low-income housing developers could apply unused credits against tax liabilities in up to five prior taxable years for taxable years beginning after enactment.

## Cosponsors (1)

- Sen. Rounds, Mike [R-SD] (R-SD), 2026-08-07T00:00:00.000Z

## Provisions PRIA read

- Carryback for affordable housing investors: benefit, high. This bill would let taxpayers carry back the low-income housing tax credit up to five years. If enacted, developers and investors who use the section 42 credit would be able to offset past tax bills or get refunds. The change would apply to taxable years beginning after the date of enactment. It wo…

## Related bills

- 119-s-2838: Protecting Our Democracy Act
- 119-s-5283: Momnibus Act
- 119-s-2904: SHADOW Fleet Sanctions Act of 2026
- 119-s-3257: John A. Hauser Mental Health in Aviation Act
- 119-s-554: United States-Israel Defense Partnership Act of 2025
- 119-s-390: BADGES for Native Communities Act

## Sources
- [119-s-5366 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/5366)

## Related
- [119-s-2838: Protecting Our Democracy Act](https://policyrisk.com/legislation/119-s-2838)
- [119-s-5283: Momnibus Act](https://policyrisk.com/legislation/119-s-5283)
- [119-s-2904: SHADOW Fleet Sanctions Act of 2026](https://policyrisk.com/legislation/119-s-2904)
- [119-s-3257: John A. Hauser Mental Health in Aviation Act](https://policyrisk.com/legislation/119-s-3257)
- [119-s-554: United States-Israel Defense Partnership Act of 2025](https://policyrisk.com/legislation/119-s-554)
- [119-s-390: BADGES for Native Communities Act](https://policyrisk.com/legislation/119-s-390)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-5366 (as of 2026-08-26).