US Congress House Bill 1158 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on February 16 2017 - 25% progression, died in committee
Action: 2017-02-16 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Historic Tax Credit Improvement Act of 2017 This bill amends the Internal Revenue Code, with respect to the tax credit for the rehabilitation of buildings and historic structures, to: (1) allow an increased 30% credit, up to $750,000, for projects with rehabilitation expenditures not exceeding $3.75 million, for which no credit was allowed in either of the two prior taxable years (smaller projects); (2) allow the transfer of tax credit amounts for smaller projects; (3) treat a building as substantially rehabilitated if rehabilitation expenditures exceed the greater of 50% of the adjusted basis of the building or $5,000 (currently, the greater of the adjusted basis of the building or $5,000); (4) reduce the required basis adjustment from 100% of the credit to 50% of the amount of the credit; and (5) limit the application of disqualified lease rules to tax-exempt use property.

Historic Tax Credit Improvement Act of 2017

Rep. Mike Kelly [R-PA]	Rep. Earl Blumenauer [D-OR]	Rep. Steven Palazzo [R-MS]	Rep. Bennie Thompson [D-MS]
Rep. Cedric Richmond [D-LA]	Rep. Terri Sewell [D-AL]	Rep. Gregg Harper [R-MS]	Rep. Patrick Meehan [R-PA]
Rep. Michael Turner [R-OH]	Rep. David Reichert [R-WA]	Rep. Pete Sessions [R-TX]	Rep. Ron Kind [D-WI]
Rep. Bradley Byrne [R-AL]	Rep. Niki Tsongas [D-MA]	Rep. James McGovern [D-MA]	Rep. Suzan DelBene [D-WA]
Rep. Eleanor Norton [D-DC]	Rep. Patrick Tiberi [R-OH]	Rep. Ralph Abraham [R-LA]	Rep. Tim Ryan [D-OH]
Rep. Elise Stefanik [R-NY]	Rep. Eddie Johnson [D-TX]	Rep. Trent Kelly [R-MS]	Rep. David Loebsack [D-IA]
Rep. Joyce Beatty [D-OH]	Rep. Brian Higgins [D-NY]	Rep. Robin Kelly [D-IL]	Rep. Elijah Cummings [D-MD]
Rep. Bill Johnson [R-OH]	Sen. Peter Welch [D-VT]	Rep. Rod Blum [R-IA]	Rep. Steve Chabot [R-OH]
Rep. John Faso [R-NY]	Rep. Garret Graves [R-LA]	Rep. Will Hurd [R-TX]	Rep. Stephen Lynch [D-MA]
Rep. Gerald Connolly [D-VA]	Rep. Steve Stivers [R-OH]	Rep. Alan Lowenthal [D-CA]	Rep. John Larson [D-CT]
Rep. Joe Courtney [D-CT]	Rep. Mark Pocan [D-WI]	Rep. Bruce Poliquin [R-ME]	Rep. G. Butterfield [D-NC]
Rep. Ann Wagner [R-MO]	Rep. James Renacci [R-OH]	Rep. John Katko [R-NY]	Rep. French Hill [R-AR]
Rep. Mike Thompson [D-CA]	Rep. Darin LaHood [R-IL]	Rep. Donald McEachin [D-VA]	Rep. Louise Slaughter [D-NY]
Rep. Fred Upton [R-MI]	Rep. Chris Collins [R-NY]	Rep. Michael Doyle [D-PA]	Rep. Lynn Jenkins [R-KS]
Rep. John Moolenaar [R-MI]	Rep. Adam Kinzinger [R-IL]	Rep. Jason Smith [R-MO]	Rep. Brad Wenstrup [R-OH]
Rep. David Cicilline [D-RI]	Rep. Ted Poe [R-TX]	Rep. Robert Brady [D-PA]	Rep. Rob Bishop [R-UT]
Rep. Lacy Clay [D-MO]	Rep. Ruben Gallego [D-AZ]	Rep. Charles Dent [R-PA]	Rep. Matthew Cartwright [D-PA]
Rep. Bob Gibbs [R-OH]	Rep. Chellie Pingree [D-ME]	Rep. Don Bacon [R-NE]	Rep. David Joyce [R-OH]
Rep. Marcy Kaptur [D-OH]	Rep. Kristi Noem [R-SD]	Rep. Paul Tonko [D-NY]	Rep. Jeff Fortenberry [R-NE]
Rep. Clay Higgins [R-LA]	Rep. Marcia Fudge [D-OH]	Rep. Cheri Bustos [D-IL]	Rep. Glenn Thompson [R-PA]
Rep. David Rouzer [R-NC]	Rep. Elizabeth Esty [D-CT]	Rep. Thomas Garrett [R-VA]

Date	Chamber	Action
2017-02-16	House	Referred to the House Committee on Ways and Means.
2017-02-16	House	Introduced in House

SB425 (Related) 2017-02-16 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/1158/all-info
Text	https://www.congress.gov/115/bills/hr1158/BILLS-115hr1158ih.pdf