H.R. 2941In committeeJobs & the economy
Bill expands historic building renovation tax credits
Data as of July 11, 2026
Owners who restore historic buildings could claim a larger, faster federal tax credit — and smaller projects could sell that credit to others.45-second read · 4 questions answered below
Decoded
What does this do?
This bill changes the federal tax credit for renovating historic buildings in several ways. Owners could take the full 20% credit in the same year the building reopens, instead of spreading it over five years. Smaller projects would get a higher 30% credit rate and could transfer that credit to another person or business.
Who does it affect?
These changes would affect real estate developers, property owners, investors, and nonprofits that restore historic buildings. Smaller projects in rural areas would see additional adjustments under the bill.
Why does it matter?
Allowing the credit to be taken all at once and transferred changes when and how owners and investors receive its financial value. Loosening eligibility rules and removing the depreciation reduction means more buildings and owners could qualify and keep more of the credit's value.
Where does it stand?
- Introduced
- House committee — You are here
- House vote
- Senate
- President's desk
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the President.
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Official title
Historic Tax Credit Growth and Opportunity Act of 2025
- Introduced:
- April 17, 2025
- Latest action:
- April 17, 2025
Referred to the House Committee on Ways and Means.
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