Elimination of basis reduction for low-income housing properties energy efficient commercial building deduction

(a) Energy efficient commercial buildings deduction Subsection (e) of section 179D is amended— (1) by striking reduction.—For purposes and inserting “ reduction.— (1) In general For purposes, and (2) by adding at the end the following new paragraph: (2) Exception for affordable housing properties Paragraph (1) shall not apply for purposes of determining eligible basis under section 42.. (b) Effective date The amendments made by this section shall apply to buildings which receive allocations of housing credit dollar amount after the date of the enactment of this Act and to buildings that are described in section 42(h)(4)(B) of the Internal Revenue Code of 1986 taking into account only obligations that are part of an issue the issue date of which is after December 31, 2025.