Revitalizing Downtowns Act

Summary

Revitalizing Downtowns Act This bill expands the investment tax credit to add a qualified office conversion credit. The amount of such credit is 20% of the qualified conversion expenditures with respect to a qualified converted building. The bill defines qualified converted building as any building if (1) prior to conversion, the building was nonresidential real property which was leased, or available for lease, to office tenants; (2) the building has been substantially converted from an office use to a residential, retail, or other commercial use; (3) the building was initially placed in service at least 25 years prior to the beginning of the conversion, and (4) straight line depreciation is allowable with respect to the building.

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Timeline

1. 20 January 2023

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 20 January 2023

   Introduced

   Introduced in House

   Source: IntroReferral

3. 20 January 2023

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 20 January 2023 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 20 January 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 20 January 2023

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 20 January 2023

  Open at official source

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Gomez, Jimmy [D-CA-34] · D · Sponsor
• Rep. Larson, John B. [D-CT-1] · D · Sponsor
• Rep. Kildee, Daniel T. [D-MI-5] · D · Sponsor
• Rep. Sherman, Brad [D-CA-32] · D · Cosponsor
• Rep. Levin, Mike [D-CA-49] · D · Cosponsor
• Rep. Krishnamoorthi, Raja [D-IL-8] · D · Cosponsor
• Rep. Hayes, Jahana [D-CT-5] · D · Cosponsor
• Del. Norton, Eleanor Holmes [D-DC-At Large] · D · Cosponsor
• Rep. Kaptur, Marcy [D-OH-9] · D · Cosponsor
• Rep. Kennedy, Timothy M. [D-NY-26] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Revitalizing Downtowns Act