(c) Train derailment For purposes of this section, the term East Palestine train derailment means the derailment of a train in East Palestine, Ohio, on February 3, 2023. (d) Effective date This section shall apply to amounts received on or after February 3, 2023. V More Affordable housing 501. State housing credit ceiling increase for low-income housing credit (a) In general Section 42(h)(3)(I) is amended— (1) by striking and 2021, and inserting 2021, 2023, 2024, and 2025, , and (2) by striking 2018, 2019, 2020, and 2021 in the heading and inserting certain calendar years . (b) Effective date The amendments made by this section shall apply to calendar years after 2022. 502. Tax-exempt bond financing requirement (a) In general Section 42(h)(4) is amended by striking subparagraph (B) and inserting the following: (B) Special rule where minimum percent of buildings is financed with tax-exempt bonds subject to volume cap For purposes of subparagraph (A), paragraph (1) shall not apply to any portion of the credit allowable under subsection (a) with respect to a building if— (i) 50 percent or more of the aggregate basis of such building and the land on which the building is located is financed by 1 or more obligations described in subparagraph (A), or (ii) (I) 30 percent or more of the aggregate basis of such building and the land on which the building is located is financed by 1 or more qualified obligations, and (II) 1 or more of such qualified obligations— (aa) are part of an issue the issue date of which is after December 31, 2023, and (bb) provide the financing for not less than 5 percent of the aggregate basis of such building and the land on which the building is located. (C) Qualified obligation For purposes of subparagraph (B)(ii), the term qualified obligation means an obligation which is described in subparagraph (A) and which is part of an issue the issue date of which is before January 1, 2026. . (b) Effective date (1) In general The amendment made by this section shall apply to buildings placed in service