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United States · Bill · HR

H.R. 4759 (117th)

Revitalizing Downtowns Act

referredUnited States· United States Congress· EN

Introduced

28 July 2021

Last action

28 July 2021 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Gomez, Jimmy [D-CA-34], Rep. Larson, John B. [D-CT-1], Rep. Kildee, Daniel T. [D-MI-5], Rep. Vela, Filemon [D-TX-34], Rep. Bustos, Cheri [D-IL-17], Rep. Ryan, Tim [D-OH-13], Rep. Sewell, Terri A. [D-AL-7], Rep. Beyer, Donald S. [D-VA-8], Rep. Hayes, Jahana [D-CT-5], Rep. Mfume, Kweisi [D-MD-7], Rep. Peters, Scott H. [D-CA-50], Rep. Panetta, Jimmy [D-CA-19], Rep. Sherman, Brad [D-CA-32], Rep. Schakowsky, Janice D. [D-IL-9], David Scott, Rep. Levin, Mike [D-CA-49], Rep. Gottheimer, Josh [D-NJ-5], Rep. Kelly, Robin L. [D-IL-2], Rep. Davis, Danny K. [D-IL-7], Rep. Kilmer, Derek [D-WA-6], Rep. Porter, Katie [D-CA-47], Rep. Levin, Andy [D-MI-9], Rep. Evans, Dwight [D-PA-3], Rep. Aguilar, Pete [D-CA-33], Rep. Gonzalez, Vicente [D-TX-34], Rep. Cicilline, David N. [D-RI-1], Rep. Napolitano, Grace F. [D-CA-32], Rep. Krishnamoorthi, Raja [D-IL-8], Rep. Huffman, Jared [D-CA-2], Rep. Brown, Shontel M. [D-OH-11], Rep. Dean, Madeleine [D-PA-4]

Subjects

Taxation

Source updated

10 January 2026

Taxation

Official sourceDownload fileView documentsShare

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 28 July 2021

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 28 July 2021

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 28 July 2021

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 28 July 2021

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  • Introduced in House (PDF)

    Introduced in House · EN · 28 July 2021

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 28 July 2021

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Sponsors

Related records

Sources

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