REHAB Act of 2021
- Last Action
- 3/2/2021
Actions
- 2021-03-02Referred to the House Committee on Ways and Means.
- 2021-03-02Sponsor introductory remarks on measure. (CR E189)
- 2021-03-02Introduced in House
- 2021-03-02Introduced in House
CRS Summary
As of 2021-03-02 (00)
Revitalizing Economies, Housing, And Businesses Act of 2021 or the REHAB Act of 2021
This bill modifies provisions relating to the rehabilitation tax credit. Specifically, the bill allows an increased 15% credit for non-historic buildings placed in service 50 years prior to the current calendar year. It also allows the credit for buildings within a half-mile of public transportation facilities, for residential lodging purposes, and for expenses related to building expansion on the same block as a qualified rehabilitation building.
The bill allows a 25% credit for rent-restricted housing units and for expenses related to public infrastructure projects required by state or local governments as a condition of project completion.
Cosponsors (7)
- Mike Kelly (R-PA)
- Gerald Connolly (D-VA)
- Dina Titus (D-NV)
- Daniel Kildee (D-MI)
- Darin LaHood (R-IL)
- Brian Fitzpatrick (R-PA)
- ELEANOR NORTON (D-DC)
Subjects
- Building construction
- Historic sites and heritage areas
- Income tax credits
- Infrastructure development
- Low- and moderate-income housing
- Public transit
- State and local government operations
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.