A bill to amend the Internal Revenue Code of 1986 to provide special rules for treatment of low-income housing credits, and for other purposes.
Low Income Housing Tax Credit Recovery Act of 2010 - Amends the Internal Revenue Code, with respect to the low-income housing tax credit, to allow: (1) a five-year carryback period for unused tax credit amounts; (2) an extended carryback period for new investments in housing in 2010 and 2011; and (3) a full offset of such credit against regular income tax liability.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S1752)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1752-1753)
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