Search Results: keywords:"rehabilitation credit"

  • H. R. 1454 — To amend the Internal Revenue Code of 1986 to enhance the rehabilitation credit for buildings in rural areas.
    💰
    Status:Introduced in House
    Words:1,973

    The bill H. R. 1454 aims to improve rehabilitation credits for buildings located in rural areas by amending the Internal Revenue Code of 1986. It provides enhanced tax credits for rural building projects, especially those meant for affordable housing, allowing up to 40%...

    Simple Explanation

    The bill H. R. 1454 is like giving bonus points to help fix up old buildings in countryside areas, especially to make homes cheaper. The plan includes rules to make sure people really make the homes affordable and to let them share the bonus points, but some parts might make it tricky and confusing.

  • S. 5607 — To amend the Internal Revenue Code of 1986 to enhance the rehabilitation credit for buildings in rural areas.
    💰
    Status:Introduced in Senate
    Words:1,981

    The bill S. 5607 proposes amendments to the Internal Revenue Code of 1986 to improve the rehabilitation credit for buildings in rural areas. It introduces a special credit for "applicable rural projects," allowing a 40% credit for affordable housing projects and a 30% credit...

    Simple Explanation

    The bill aims to help fix old buildings in small towns by offering extra money back to people who make them nicer, giving more back for affordable homes than other projects, but only if the town is not too big.

  • H. R. 9002 — To amend the Internal Revenue Code of 1986 to provide an investment credit for converting non-residential buildings to affordable housing.
    💰
    Status:Introduced in House
    Words:3,306

    H.R. 9002, known as the "Revitalizing Downtowns and Main Streets Act," aims to amend the Internal Revenue Code to provide a 20% investment credit for converting non-residential buildings into affordable housing. The bill defines "qualified conversion expenditures" as capital...

    Simple Explanation

    H.R. 9002 wants to help turn old shops and offices into places where people can live by giving money back to builders through a special tax credit. This means when builders spend money to change these buildings into homes for people who don't earn a lot, they get some of that money back to make it easier and fairer.