US Congress House Bill 3846 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on October 28 2015 - 25% progression, died in committee
Action: 2015-10-28 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Historic Tax Credit Improvement Act of 2015 This bill amends the Internal Revenue Code, with respect to the tax credit for the rehabilitation of buildings and historic structures, to: (1) allow an increased 30% credit, up to $750,000, for projects with rehabilitation expenditures not exceeding $3.75 million, for which no credit was allowed in either of the 2 prior taxable years (smaller projects); (2) allow the transfer of tax credit amounts for smaller projects; (3) treat a building as substantially rehabilitated if rehabilitation expenditures exceed the greater of 50% of the adjusted basis of the building or $5,000 (currently, the greater of the adjusted basis of the building or $5,000); (4) exempt from tax the proceeds of a state historic tax; and (5) set forth special rules for the tax treatment of tax-exempt use property and functionally-related historic structures.

Historic Tax Credit Improvement Act of 2015

Rep. Mike Kelly [R-PA]	Rep. Earl Blumenauer [D-OR]	Rep. Patrick Tiberi [R-OH]	Rep. Richard Neal [D-MA]
Rep. Charles Boustany [R-LA]	Rep. John Larson [D-CT]	Rep. Michael Turner [R-OH]	Rep. Ron Kind [D-WI]
Rep. Charles Rangel [D-NY]	Rep. Tom Reed [R-NY]	Rep. James McGovern [D-MA]	Rep. Derek Kilmer [D-WA]
Rep. James Renacci [R-OH]	Rep. Ted Poe [R-TX]	Rep. Lynn Jenkins [R-KS]	Rep. Mark Pocan [D-WI]
Rep. Eleanor Norton [D-DC]	Rep. Marc Veasey [D-TX]	Rep. Suzanne Bonamici [D-OR]	Rep. Bill Huizenga [R-MI]
Rep. David Reichert [R-WA]	Rep. Joyce Beatty [D-OH]	Rep. Steve Chabot [R-OH]	Rep. Bradley Byrne [R-AL]
Rep. Rod Blum [R-IA]	Rep. Marcy Kaptur [D-OH]	Rep. Niki Tsongas [D-MA]	Rep. Susan Brooks [R-IN]
Rep. Brad Ashford [D-NE]	Rep. Gwen Moore [D-WI]	Rep. Patrick Meehan [R-PA]	Rep. Elizabeth Esty [D-CT]
Rep. Erik Paulsen [R-MN]	Rep. Suzan DelBene [D-WA]	Rep. Mike Thompson [D-CA]	Rep. David Cicilline [D-RI]
Rep. Ralph Abraham [R-LA]	Rep. Bill Pascrell [D-NJ]	Rep. Cedric Richmond [D-LA]	Rep. Joe Courtney [D-CT]
Rep. Paul Tonko [D-NY]	Rep. Bennie Thompson [D-MS]	Rep. Kristi Noem [R-SD]	Rep. David Joyce [R-OH]
Rep. Tim Ryan [D-OH]	Rep. Eddie Johnson [D-TX]	Rep. Steve Stivers [R-OH]	Rep. Gregg Harper [R-MS]
Rep. Joe Wilson [R-SC]	Rep. Bill Johnson [R-OH]	Rep. Elise Stefanik [R-NY]	Rep. Pete Sessions [R-TX]
Rep. Steven Palazzo [R-MS]

Date	Chamber	Action
2015-10-28	House	Referred to the House Committee on Ways and Means.
2015-10-28	House	Introduced in House

SB2655 (Related) 2016-03-09 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/3846/all-info
Text	https://www.congress.gov/114/bills/hr3846/BILLS-114hr3846ih.pdf