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.