releases: https://www.capito.senate.gov/news/press-releases/capito-cosponsors-bill-to-expand-access-to-historic-tax-credit
Data license: MIT · Data source: dwillis/congress-press
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| url | title | date | year | month | party | chamber | state | member_name | bioguide_id | domain | scraper | source | date_source | text | has_text | collected_at | updated_at |
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| https://www.capito.senate.gov/news/press-releases/capito-cosponsors-bill-to-expand-access-to-historic-tax-credit | Capito Cosponsors Bill to Expand Access to Historic Tax Credit | 2026-06-17 | 2026 | 2026-06 | Republican | Senate | WV | Shelley Moore Capito | C001047 | www.capito.senate.gov | capito | https://www.capito.senate.gov/news/press-releases | scraper | WASHINGTON, D.C. – This week, U.S. Senator Shelley Moore Capito (R-W.Va.) cosponsored the Historic Tax Credit Growth and Opportunity Act of 2025, legislation that builds on tax provisions in the Working Families Tax Cuts Act to foster economic growth and local investment by expanding the Historic Tax Credit (HTC) and increasing project eligibility. “West Virginia has such wonderful history and architecture, and we’ve seen successful investments across our state through the revitalization of historic properties for new businesses or apartments. The HTC brings to life some of our most recognizable structures and we should make it easier for these investments to take place – not harder,” Senator Capito said. “By simplifying the transaction structure of this credit and increasing project eligibility, we will continue to encourage innovative ways to increase community engagement, economic development, and tourism using our historic buildings.” Details on the Historic Tax Credit Growth and Opportunity Act of 2025: Creates a new 30 percent transferable credit for small and rural projects while returning the base credit to be payable in the same year the revitalized property is placed into service. The bill lowers the threshold the cost of a project must meet to be eligible by eliminating the basis-adjustment requirement, which will bring the HTC in line with other credits such as the Low-Income Housing Tax Credit. Further expands eligible renovation projects by decreasing the rehabilitation investment threshold from 100 percent to 50 percent of the project’s expenses. Project expenses would only have to exceed half of the project’s cost to qualify for the credit. It also amends rules for tax-exempt entities – such as health care centers, arts organizations, community services, and workforce training providers – to allow better access to the credit. In addition to Senator Capito, the legislation is cosponsored by: U.S. Senators Bill Cassidy (R-La.), Susan Collins (R-Maine), Cindy Hyde-Smith (R-Miss.), Jim Banks (R-Ind.), Todd Young (R-Ind.), Mark Warner (D-Va.), Maria Cantwell (D-Wash.), Amy Klobuchar (D-Minn.), Tina Smith (D-Minn.), and Angus King (I-Maine). Full text of the legislation is available here. # # # | 1 | 2026-06-18T06:41:00Z | 2026-06-18T06:43:25Z |