Search Results: keywords:"revitalizing downtowns and main streets act"

  • H. R. 2410 — To amend the Internal Revenue Code of 1986 to provide an investment credit for converting non-residential buildings to affordable housing.
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    Status:Introduced in House
    Words:3,390

    H.R. 2410, called the “Revitalizing Downtowns and Main Streets Act,” proposes changes to the Internal Revenue Code of 1986 to introduce a 20% investment tax credit. This credit applies to the expenses involved in converting non-residential buildings into affordable housing....

    Simple Explanation

    H.R. 2410 is about giving money back to people who change old buildings into homes for people who need them, especially in places that need more help, like the countryside or towns that need fixing up. It can be a bit confusing and might work differently in different places, depending on the area's rules.

  • S. 4693 — To amend the Internal Revenue Code of 1986 to provide an investment credit for converting non-residential buildings to affordable housing.
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    Status:Introduced in Senate
    Words:3,274

    S. 4693, called the "Revitalizing Downtowns and Main Streets Act," aims to amend the Internal Revenue Code to provide a tax credit to encourage the conversion of non-residential buildings into affordable housing. The bill allows for a tax credit equal to 20% of conversion expenses for...

    Simple Explanation

    The "Revitalizing Downtowns and Main Streets Act" is a rule that gives money back, in the form of a tax credit, to people who change old office buildings into homes that people can afford, especially in areas that need more help. Basically, it wants to make sure there are more affordable places to live by giving a special "money reward" for turning empty offices into nice homes for people who don't earn a lot of money.