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Tax Credits for Building Renovation: Boosting Housing and Business.

This act modifies tax credits for building rehabilitation, potentially encouraging investment in older properties. Citizens may benefit from renovated residential and commercial buildings, especially near public transportation, which could impact housing availability and local business development. The new rules aim to revitalize economies and improve housing conditions.
Key points
Increases the tax credit for rehabilitating non-historic buildings from 10% to 15% of costs.
Introduces an additional 25% credit for rehabilitating buildings with rent-restricted housing units for lower-income individuals.
Requires non-historic buildings to be near public transportation centers to qualify for the credit.
Allows credit for public infrastructure expenditures (e.g., water lines, roads) related to building rehabilitation.
Mandates public reporting of rehabilitation project information, increasing transparency.
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Expired
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Additional Information
Print number: 117_HR_1483
Sponsor: Rep. Blumenauer, Earl [D-OR-3]
Process start date: 2021-03-02
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

REHAB Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1483.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-02.

What are the main provisions?

Key points include:

  • Increases the tax credit for rehabilitating non-historic buildings from 10% to 15% of costs.
  • Introduces an additional 25% credit for rehabilitating buildings with rent-restricted housing units for lower-income individuals.
  • Requires non-historic buildings to be near public transportation centers to qualify for the credit.
  • Allows credit for public infrastructure expenditures (e.g., water lines, roads) related to building rehabilitation.
  • Mandates public reporting of rehabilitation project information, increasing transparency.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Blumenauer, Earl [D-OR-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Real Estate Public Investments