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.