United StatesAllows historic public school buildings to qualify for rehabilitation tax credit
Could increase federal tax-credit support for renovating aging public school facilities, potentially affecting school conditions and local project financing.
What it does
Modifies the rehabilitation tax credit rules so the existing clause in Section 47(c)(2)(B)(v) does not apply to rehabilitations of buildings that were used as a qualified public educational facility within the prior five years and are used as such immediately after rehabilitation.
Requires a Treasury Department report to Congress within five years, covering the number of rehabilitated public education facilities by State, student counts, projects in low-income communities, rehabilitation expenditure amounts, and other useful data.
Specifies the amendment applies to property placed in service after the date of enactment.
Directs Treasury to consult with appropriate federal agency heads when preparing the report to Congress.
Argument forMakes federal rehabilitation tax credits available for historic public school buildings, which can lower the net cost of renovating aging school facilities.
Argument againstThe federal credit may reduce federal tax revenue, and the bill includes no budget offset or estimate of fiscal impact in the text.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 27Introduced in HouseLatest
- Apr 27Referred to the House Committee on Ways and Means.Introduced
EducationTaxes & BudgetConsumer Protection