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Historic Tax Credit Reform: Enhanced Support for Building Rehabilitation

This act modifies tax credits for rehabilitating historic buildings. It aims to encourage the restoration of old properties, potentially improving urban and rural landscapes and creating opportunities for investors and property owners. The changes could make financing renovation projects easier.
Key points
Increased tax credit from 20% to 30% for small rehabilitation projects, especially in rural areas.
Ability to transfer the tax credit to another individual or company, facilitating funding for renovations.
Simplified rules for qualifying buildings for the credit, potentially including more properties.
Elimination of the requirement to reduce the building's cost basis by the credit amount, increasing financial benefits.
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Status: Introduced
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Additional Information
Print number: 119_S_1459
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2025-04-10
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
Source data: api.congress.gov
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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_S_1459.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-04-10.

What are the main provisions?

Key points include:

  • Increased tax credit from 20% to 30% for small rehabilitation projects, especially in rural areas.
  • Ability to transfer the tax credit to another individual or company, facilitating funding for renovations.
  • Simplified rules for qualifying buildings for the credit, potentially including more properties.
  • Elimination of the requirement to reduce the building's cost basis by the credit amount, increasing financial benefits.
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 Sen. Cassidy, Bill [R-LA].

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 2025-12-23.

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