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Historic Tax Credit: Increased Support and New Rules for Renovations

This act modifies tax credits for renovating historic buildings. The goal is to encourage the restoration of older properties, potentially improving urban and rural landscapes and creating new opportunities for property owners and investors. These changes aim to make financial support for such projects more accessible.
Key points
Increased tax credit (from 20% to 30%) for smaller renovation projects, especially in rural areas.
Ability to transfer tax credits to other individuals or businesses, simplifying project financing.
Easier qualification for buildings to receive the credit and simplified tax accounting after renovation.
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Status: Introduced
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Additional Information
Print number: 119_HR_2941
Sponsor: Rep. LaHood, Darin [R-IL-16]
Process start date: 2025-04-17
System Note: Lustra is free, publicly auditable civic infrastructure — 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

OFFICIAL LEGAL TITLE

Historic Tax Credit Growth and Opportunity Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_2941.

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 2025-04-17.

What are the main provisions?

Key points include:

  • Increased tax credit (from 20% to 30%) for smaller renovation projects, especially in rural areas.
  • Ability to transfer tax credits to other individuals or businesses, simplifying project financing.
  • Easier qualification for buildings to receive the credit and simplified tax accounting after renovation.
What is the specific legal status?

The current status is Introduced.

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. LaHood, Darin [R-IL-16].

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 2025-12-22.

What is the impact of this bill?

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.

CATEGORIES

Taxes Real Estate Public Investments