S 631
Rural Historic Tax Credit Improvement Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 8:44 AM
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Rural Historic Tax Credit Improvement Act, aims to increase incentives for rehabilitating historic buildings in rural areas. It expands the existing rehabilitation credit, offering higher percentages (40% for affordable housing projects and 30% otherwise) for qualified rehabilitation expenditures in designated rural areas. The bill also introduces a transfer mechanism for these credits and establishes penalties for affordable housing projects that fail to meet their affordability requirements. Finally, it adjusts certain provisions related to basis adjustments and lessee credits, effective after December 31, 2025.
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