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HR 1454119th CongressIn Committee
Rural Historic Tax Credit Improvement Act
Introduced: Feb 21, 2025
Sponsor: Rep. Carey, Mike [R-OH-15] (R-Ohio)
Standard Summary
Comprehensive overview in 1-2 paragraphs
The Rural Historic Tax Credit Improvement Act enhances the rehabilitation tax credit for buildings in rural areas with increased credit rates and transferability provisions.
Key Points
- 1Increases rehabilitation credit to 40% for affordable housing projects in rural areas
- 2Increases rehabilitation credit to 30% for non-affordable housing projects in rural areas
- 3Defines rural areas as locations outside cities/towns with >50,000 inhabitants
- 4Allows transferability of credits for applicable rural projects
- 5Includes recapture provisions for failure to comply with affordable housing requirements
- 6Applies to property placed in service after December 31, 2025
Impact Areas
Rural developmentHistoric preservationAffordable housingTax incentives for rehabilitationRural communities
Generated by kwaipilot/kat-coder-pro:free on Nov 19, 2025