; and (2) by adding at the end the following new paragraph: (2) Exception for low-income housing properties Paragraph (1) shall not apply to any property with respect to which a credit is allowed under section 42. . (c) Energy credit Paragraph (3) of section 50(c) of the Internal Revenue Code of 1986 is amended— (1) by striking and at the end of subparagraph (A); (2) by striking the period at the end of subparagraph (B) and inserting , and ; and (3) by adding at the end the following new subparagraph: (C) paragraph (1) shall not apply to any property with respect to which a credit is allowed under section 42. . (d) Effective date The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act, in taxable years ending after such date.