What is the official ID of this bill?

The official print number for this legislation is HR 5882.

When did the legislative process begin?

The process officially started on 2023-10-25.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/118/bills/hr5882/BILLS-118hr5882ih.htm

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

Who is the primary sponsor?

The primary sponsor is Rep. Carey, Mike [R-OH-15].

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

What is the latest detailed status?

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

Analysis and Potential Impact of HR 5882

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

Tax Credit for Historic Building Renovation: One-Year Claim.

Q: What are the main provisions?

Key points include: The tax credit for renovating certified historic structures can be claimed entirely in one taxable year. These changes apply to expenses paid or incurred after December 31, 2023. This could accelerate financial benefits for those investing in historic property rehabilitation.

This proposed bill changes how tax credits for renovating historic buildings are claimed. Instead of spreading the credit over several years, it would allow the full amount to be claimed in a single tax year. This aims to simplify and speed up the process of recovering costs for investments in historic properties, potentially encouraging more renovations.

Key points

The tax credit for renovating certified historic structures can be claimed entirely in one taxable year.

These changes apply to expenses paid or incurred after December 31, 2023.

This could accelerate financial benefits for those investing in historic property rehabilitation.

article Official text account_balance Process page notifications_active Track this Bill

gavel

Status:

Expired

Record your position for audit.

Why does your vote on bills matter?

It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens (explained here). Start recording it now.

Additional Information

To amend the Internal Revenue Code of 1986 to modify the rehabilitation credit to allow such credit to be taken in one taxable year.

Print number: HR 5882

Sponsor: Rep. Carey, Mike [R-OH-15]

Process start date: 2023-10-25

System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.

Summarized by: gemini-2.5-flash-preview-05-20

Source data: api.congress.gov

AI work logs for this document launch

Tax Credit for Historic Building Renovation: One-Year Claim.

Key Questions about Tax Credit for Historic Building Renovation: One-Year Claim.