Rural Historic Tax Credit Improvement Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Latest action
- Feb 21, 2025
What it does
The Rural Historic Tax Credit Improvement Act would enhance the federal rehabilitation tax credit for historic building projects located in rural areas, 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 would allow taxpayers to transfer these credits to others under specific certification and reporting requirements, and it would eliminate certain basis adjustments and recapture rules that currently apply to rehabilitation credits for such rural projects. The changes would apply to property placed in service after December 31, 2025, and define rural areas as…
AI summary · The lawmakers haven’t published an official summary of this bill yet, so 52 wrote this one 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.