Rural Historic Tax Credit Improvement Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Sponsors
- 2
- Latest action
- Feb 19, 2025
What it does
The Rural Historic Tax Credit Improvement Act would enhance the federal rehabilitation tax credit for historic buildings located in rural areas by increasing the credit rate to 40% for affordable housing projects and 30% for other qualifying rural rehabilitation projects, with a $5 million cap on eligible expenses per project. It applies to buildings in areas outside cities or towns with populations over 50,000 and their adjacent urbanized areas, as defined by the Census Bureau. The bill also allows the transfer of these credits between taxpayers, includes reporting and certification requirements, and eliminates certain basis adjustments for the rehabilitation credit when applied to…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money.