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United States · Bill · S

S. 2655 (114th)

Historic Tax Credit Improvement Act of 2015

referredUnited States· United States Congress· EN

Introduced

9 March 2016

Last action

9 March 2016 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Rep. Cardin, Benjamin L. [D-MD-3], Susan Collins, Charles Schumer, Sen. Blunt, Roy [R-MO], Sen. Leahy, Patrick J. [D-VT], Maria Cantwell, Gary Peters, Roger Wicker

Subjects

Taxation

Source updated

12 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Historic Tax Credit Improvement Act of 2015 This bill amends the Internal Revenue Code, with respect to the tax credit for the rehabilitation of buildings and historic structures, to: (1) allow an increased 30% credit, up to $750,000, for projects with rehabilitation expenditures not exceeding $3.75 million, for which no credit was allowed in either of the two immediately preceding taxable years (small projects); (2) allow the transfer of tax credit amounts for small projects; (3) treat a building as substantially rehabilitated if rehabilitation expenditures exceed the greater of 50% of the adjusted basis of the building or $5,000 (currently, the greater of the adjusted basis of the building or $5,000); (4) exempt from tax the proceeds of a state historic tax; and (5) limit the application of disqualified lease rules to tax-exempt use property.

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Timeline

  1. 9 March 2016

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 9 March 2016

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

View fileDownload file

Sponsors

Related records

Sources

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