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Increased Tax Credits for Historic Building Renovations

This act modifies tax credits for individuals and businesses renovating historic buildings. It increases the credit for smaller renovation projects and expands the types of buildings eligible for the credit. The goal is to encourage the restoration of historic properties, potentially impacting urban aesthetics and local tourism.
Key points
Increases the tax credit from 20% to 30% for small renovation projects (up to $3.75 million in costs), with a maximum credit of $750,000.
Expands the types of buildings eligible for the credit, opening up more opportunities for historic property restoration.
Simplifies the rules for the credit by eliminating certain complex calculations related to property value.
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Expired
Citizen Poll
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Additional Information
Print number: 117_S_2266
Sponsor: Sen. Cardin, Benjamin L. [D-MD]
Process start date: 2021-06-24
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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

Historic Tax Credit Growth and Opportunity Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2266.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-06-24.

What are the main provisions?

Key points include:

  • Increases the tax credit from 20% to 30% for small renovation projects (up to $3.75 million in costs), with a maximum credit of $750,000.
  • Expands the types of buildings eligible for the credit, opening up more opportunities for historic property restoration.
  • Simplifies the rules for the credit by eliminating certain complex calculations related to property value.
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 Sen. Cardin, Benjamin L. [D-MD].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

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