Historic Tax Credit Growth and Opportunity Act of 2025
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- 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 expands the types of buildings eligible for the credit, while eliminating certain adjustments related to the credit’s impact on basis.
Key provisions
- Increases the historic rehabilitation tax credit rate to 20% for most projects.
- Provides a 30% historic rehabilitation tax credit for qualifying small projects.
- Allows for the transfer of historic rehabilitation tax credits.
- Expands the types of buildings eligible for the historic rehabilitation tax credit.
- Eliminates the basis adjustment associated with the historic rehabilitation tax credit.
- Creates a special rule for rural projects, increasing the maximum eligible project cost.
- Modifies rules regarding tax-exempt use property to clarify eligibility for the credit.
- Establishes procedures for making and transferring credit elections.
Who is affected
- Homeowners
- Property Developers
- Building Owners
- Taxpayers
- Nonprofit Organizations
Notable changes
Bill text
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Sponsors
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14 on record
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Cosponsors
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