Congress·In Committee·S. 1459

Historic Building Renovations: Tax Credit Expansion

Historic Tax Credit Growth and Opportunity Act of 2025

12 months ago·View on Congress.gov

Part of: Bipartisan Bill Proposes $2,000 Tax Credit for Family Caregivers Starting 2027

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Stalled

No legislative action in over 90 days.

Legislative Progress

Senate

House

President

Law

Key Points

This bill aims to make it cheaper and easier for people to fix up old, historic buildings. It increases the federal tax credit—which is a dollar-for-dollar reduction in taxes owed—from 20% to 30% for smaller renovation projects.
Small projects are defined as those costing up to $3.75 million, but the limit goes up to $5 million for projects in rural areas. This is designed to help smaller towns save their historic downtowns and landmarks that might otherwise be torn down.
The bill makes it easier to qualify for the money. Currently, owners usually have to spend as much money on repairs as the building is worth. This bill would let them qualify if they spend just half of the building's value on renovations.
For the first time, people doing these small projects would be allowed to sell their tax credits to someone else. This helps developers get the cash they need upfront to pay for construction instead of waiting years to see the tax savings.
The bill also changes the rules so that owners get the full tax break in the same year the building opens. Previously, this benefit was spread out over five years, which made it harder for projects to stay on budget.

Milestones

2 milestones2 actions

Apr 10, 2025Senate

Read twice and referred to the Committee on Finance.

Apr 10, 2025

Introduced in Senate

Related Bills

2 bills

H.R. 6900Related bill

American Affordability Act of 2025

Dec 18 — Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Workforce, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

H.R. 2941Identical bill

Historic Tax Credit Growth and Opportunity Act of 2025

Apr 17 — Referred to the House Committee on Ways and Means.