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Historic Tax Credit Growth and Opportunity Act of 2023

H.R. 1785 Rep. Darin LaHood (R-IL-16) In committee
Bill text PDF
  1. Introduced Mar 24
  2. Committee Mar 24
  3. Passed House Next
  4. Passed Senate Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Mar 24, 2023Next: House vote
1314d ago Mar 24, 2023: Referred to the House Committee on Ways and Means.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
1company, 2 filings
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Summary

Historic Tax Credit Growth and Opportunity Act of 2023

Full summary4 paragraphs

This bill increases the rehabilitation tax credit and modifies certain requirements for the credit.

The bill increases the rate of the credit for qualified rehabilitation expenditures in taxable years beginning after December 31, 2020, and before January 1, 2028, after which the rate reverts to 20%.

The bill increases the rate of the credit to 30% for certain small projects whose qualified rehabilitation expenditures do not exceed $2.5 million.

The bill also expands the types of buildings eligible for rehabilitation by decreasing the rehabilitation threshold from 100% to 50% of project expenses. It also eliminates the basis adjustment requirement for the credit and modifies rules relating to tax-exempt use property eligible for the credit.

Library of Congress summary, Mar 24, 2023

Summary versions
  • Introduced in HouseMar 24, 2023

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.