SecBot SecBot

Historic Tax Credit Growth and Opportunity Act of 2023

S. 639 Sen. Ben Cardin (D-MD) In committee
Bill text PDF
  1. Introduced Mar 2
  2. Committee Mar 2
  3. Passed Senate Next
  4. Passed House Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Mar 2, 2023Next: Senate vote
1336d ago Mar 2, 2023: Read twice and referred to the Committee on Finance.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
1company, 2 filings
Subscribe to see spend
Member trades
2trades in the last 90 days
Subscribe to see who
Who backs the bill and who pushes back Subscribe

Companies lobbying on this bill

1 company
Companies by sector
Consumer & Retail 1
Search all 1 companies, their asks and price moves Subscribe

Summary

Historic Tax Credit Growth and Opportunity Act of 2023

Full summary3 paragraphs

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

The bill increases the rate of the credit to 30% for small projects (rehabilitation expenditures not exceeding $3.75 million) and caps the credit for such projects at $750,000 for all taxable years.

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 the eligibility of tax-exempt use property for the credit.

Library of Congress summary, Mar 2, 2023

Summary versions
  • Introduced in SenateMar 2, 2023

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 28, 2026.