Historic Tax Credit Improvement Act of 2017

Summary

Historic Tax Credit Improvement Act of 201 7 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) reduce the required basis adjustment from 100% of the credit to 50% of the amount of the credit; and (5) limit the application of disqualified lease rules to tax-exempt use property.

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Timeline

1. 16 February 2017

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 16 February 2017

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 16 February 2017 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 16 February 2017

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 16 February 2017

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 16 February 2017

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

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

Sponsors

• Sen. Cardin, Benjamin L. [D-MD] · D · Sponsor
• Sen. Collins, Susan M. [R-ME] · R · Sponsor
• Sen. Cochran, Thad [R-MS] · R · Sponsor
• Sen. Gillibrand, Kirsten E. [D-NY] · D · Sponsor
• Sen. Wicker, Roger F. [R-MS] · R · Sponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Sponsor
• Sen. Schumer, Charles E. [D-NY] · D · Cosponsor
• Sen. Cantwell, Maria [D-WA] · D · Cosponsor
• Sen. Baldwin, Tammy [D-WI] · D · Cosponsor
• Sen. Blunt, Roy [R-MO] · R · Cosponsor
• Sen. Peters, Gary C. [D-MI] · D · Cosponsor
• Sen. Brown, Sherrod [D-OH] · D · Cosponsor
• Sen. Whitehouse, Sheldon [D-RI] · D · Cosponsor
• Sen. Casey, Robert P., Jr. [D-PA] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Historic Tax Credit Improvement Act of 2017