US Congress House Bill 2825 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on May 17 2019 - 25% progression, died in committee
Action: 2019-05-17 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Increases the rehabilitation tax credit and modifies certain requirements for the credit. The bill increases the rate of the credit to 30% for smaller projects (rehabilitation expenditures not exceeding $3.75 million) and caps the credit for such projects at $750,000 for all taxable years. The bill also allows taxpayers to transfer all or a portion of the credits that are allowable for smaller projects. The bill expands the types of buildings eligible for rehabilitation by decreasing the rehabilitation threshold from 100% to 50% of project expenses. It also eliminates the basis adjustment requirement for the credit and modifies rules relating to the eligibility of tax-exempt use property for the credit.

Historic Tax Credit Growth and Opportunity Act of 2019

Rep. Earl Blumenauer [D-OR]	Rep. Mike Kelly [R-PA]	Rep. Terri Sewell [D-AL]	Rep. Darin LaHood [R-IL]
Rep. Brian Higgins [D-NY]	Rep. Michael Turner [R-OH]	Rep. Ralph Abraham [R-LA]	Rep. James McGovern [D-MA]
Rep. Bradley Byrne [R-AL]	Rep. David Cicilline [D-RI]	Rep. Denver Riggleman [R-VA]	Rep. Brian Fitzpatrick [R-PA]
Rep. Marcy Kaptur [D-OH]	Rep. Glenn Thompson [R-PA]	Rep. Tim Ryan [D-OH]	Rep. Steve Cohen [D-TN]
Rep. Suzan DelBene [D-WA]	Rep. Steve Stivers [R-OH]	Rep. Alan Lowenthal [D-CA]	Rep. James Langevin [D-RI]
Rep. Steve Chabot [R-OH]	Rep. Lloyd Smucker [R-PA]	Rep. David Joyce [R-OH]	Rep. Joyce Beatty [D-OH]
Rep. Earl Carter [R-GA]	Rep. David McKinley [R-WV]	Rep. David Loebsack [D-IA]	Rep. Alcee Hastings [D-FL]
Rep. Anthony Brindisi [D-NY]	Rep. Mike Quigley [D-IL]	Rep. Brad Wenstrup [R-OH]	Rep. Bob Gibbs [R-OH]
Rep. Betty McCollum [D-MN]	Rep. Anthony Gonzalez [R-OH]	Rep. Antonio Delgado [D-NY]	Rep. Paul Tonko [D-NY]
Rep. Bennie Thompson [D-MS]	Rep. Chris Collins [R-NY]	Rep. Bruce Westerman [R-AR]	Rep. Clay Higgins [R-LA]
Rep. Zoe Lofgren [D-CA]	Rep. Joseph Morelle [D-NY]	Rep. Jeff Fortenberry [R-NE]	Rep. Garret Graves [R-LA]
Rep. John Katko [R-NY]	Rep. Marcia Fudge [D-OH]	Rep. Elise Stefanik [R-NY]	Rep. Daniel Kildee [D-MI]
Rep. Jamie Raskin [D-MD]	Rep. Ed Perlmutter [D-CO]	Rep. Abby Finkenauer [D-IA]	Rep. Richard Hudson [R-NC]
Rep. Bill Pascrell [D-NJ]	Rep. Susan Wild [D-PA]	Rep. French Hill [R-AR]	Rep. Jackie Walorski [R-IN]
Rep. Peter DeFazio [D-OR]	Rep. Jason Smith [R-MO]	Rep. Don Bacon [R-NE]	Rep. Drew Ferguson [R-GA]
Rep. Cathy McMorris Rodgers [R-WA]	Rep. Mark Pocan [D-WI]	Rep. Pete Aguilar [D-CA]	Rep. Kim Schrier [D-WA]
Rep. Derek Kilmer [D-WA]	Rep. Dwight Evans [D-PA]	Rep. Eleanor Norton [D-DC]

Date	Chamber	Action
2019-05-17	House	Referred to the House Committee on Ways and Means.
2019-05-17	House	Introduced in House

SB2615 (Related) 2019-10-16 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/2825/all-info
Text	https://www.congress.gov/116/bills/hr2825/BILLS-116hr2825ih.pdf