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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.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1459
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2025-04-10
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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.

CATEGORIES

Taxes Real Estate Public Investments