Historic Tax Credit Growth and Opportunity Act of 2025
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
The Historic Tax Credit Growth and Opportunity Act of 2025 aims to expand and improve the historic rehabilitation tax credit. It increases the credit rate to 20% for most projects and provides a higher rate of 30% for qualifying small projects, particularly in rural areas. The bill also introduces mechanisms for transferring credits and adjusts eligibility rules for certain building types and tax-exempt entities, simplifying the process and encouraging historic preservation.
Key provisions
- Increases the historic rehabilitation tax credit to 20% for most projects.
- Raises the credit rate to 30% for qualifying small projects (under $3.75 million) and rural projects.
- Allows for the transfer of historic tax credits between taxpayers.
- Expands the types of buildings eligible for the rehabilitation credit.
- Eliminates the basis adjustment related to the rehabilitation credit.
- Modifies rules regarding tax-exempt use property to clarify eligibility.
- Establishes a process for making elections regarding the new provisions.
Who is affected
- Homeowners
- Property Developers
- Historic Preservation Organizations
- Taxpayers
- Real Estate Investors
Notable changes
- Increases the maximum credit rate for rehabilitation projects.
- Introduces a special rate for small projects and rural projects.
Bill text
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