Making an Incentive Better: House Members Introduce Bill to Improve Rehabilitation Tax Credit
By Caitlin Jones
1 min read
Making an Incentive Better: House Members Introduce Bill to Improve Rehabilitation Tax Credit
By Caitlin Jones
0 min read
Tax Credit Advisor, August 2011: On July 8, U.S. Reps. Aaron Schock and (R-Ill.) Earl Blumenauer (D-Ore.) introduced a bill (H.R. 2479) that would amend the federal rehabilitation tax credit program to support smaller projects, reward energy efficiency, and make other changes.
The Creating American Prosperity through Preservation Act of 2011 (CAPP), which reflects proposals developed by the Historic Tax Credit Coalition,has been referred to the House Ways and Means Committee, on which the two legislators sit. Prospects for passage this year are unclear, given uncertainties about Congressional action on budget and tax legislation. However, some current federal tax incentives — so-called extenders — are set to lapse at year-end.
An identical bill is expected to be introduced, perhaps in August, in the Senate, by Democratic and Republican lead sponsors from the Finance Committee.
NH&RA Presenting Sponsor
