A bill to amend the Internal Revenue Code of 1986 to expand the rehabilitation credit, and for other purposes.

Summary

Amends the Internal Revenue Code relating to the building rehabilitation tax credit to: (1) allow an increased 30% credit for projects involving $7.5 million or less in rehabilitation expenditures; (2) allow rehabilitated buildings used for lodging to qualify for such credit; (3) establish a 50-year placed-in-service requirement for non-historic rehabilitated buildings; (4) allow such credit for certain tax-exempt use property; (5) provide for the transferability of such credit; (6) increase the energy efficiency tax credit allowed to rehabilitated buildings; and (7) exempt from taxation refunds attributable to state historic tax credits.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 October 2009

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 October 2009

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 1 October 2009

  Open at official source

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