Modifies provisions of the "Rebuilding Communities and Neighborhood Preservation Act" to establish a tax credit for critical revitalization property

Summary

The bill adds a 15% tax credit for qualified renovation costs on properties located in National Register historic districts, as well as for new residences and other rehabilitation projects, with caps on the credit amount. It applies to owners, developers and other taxpayers who incur eligible expenses, aiming to spur investment in historic and low‑income neighborhoods. The measure did not pass.

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