Bills · S 1459
IN COMMITTEE· 119TH CONGRESS
Senate BillS 1459Taxation
Historic Tax Credit Growth and Opportunity Act of 2025
INTRO APR 10· LAST ACTION APR 10
READING
6MIN
COSPONSORS
13BIPARTISAN
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it aims to preserve historic buildings across the country, which often have cultural significance and contribute to local character. By making it more financially appealing to renovate these structures, the bill could spur economic development, create construction jobs, and revitalize struggling neighborhoods or rural areas. If this bill becomes law, we might see more rundown historic buildings brought back into productive use as homes, businesses, or cultural centers. This could lead to increased property values, greater local tax revenue, and more attractive communities. If it doesn't pass, many historic buildings might continue to deteriorate or be demolished due to the high costs of renovation, leading to a loss of heritage and missed opportunities for economic growth.
KEY PROVISIONS
4AI-extractedPROVISION 01
Allows the full 20% historic rehabilitation tax credit to be claimed in the year a building is ready for use, instead of being spread out over five years.
This makes the credit more immediately valuable to developers and property owners, speeding up the financial return on their investment.
PROVISION 02
Increases the historic rehabilitation tax credit to 30% for smaller projects (up to $3.75 million in costs, or $5 million in rural areas) and makes these credits transferable to other taxpayers.
This provides a greater incentive for smaller-scale renovations and in rural areas, and the transferability helps projects proceed even if the developer doesn't have sufficient tax liability to use the credit themselves.
PROVISION 03
Changes the eligibility criteria to make it easier for more buildings to qualify for the historic rehabilitation tax credit by lowering the required spending threshold compared to the building's existing value.
This expands the pool of buildings that can benefit from the credit, potentially leading to more historic preservation projects overall.
PROVISION 04
Eliminates the requirement for taxpayers to reduce a building's depreciable value by the amount of the historic rehabilitation tax credit they receive.
This allows property owners to fully benefit from both the tax credit and the depreciation deductions, significantly improving the financial viability of historic rehabilitation projects.
SPONSORSHIP
1 + 13
R· Louisiana
YRS IN OFFICE
17
BILLS LED
118
COSPONSOR BREAKDOWNBIPARTISAN · 100%
DEM 6 REP 6 IND 1
ACTION TIMELINE
2 EVENTSAPR 10
Introduced in Senate
APR 10
Read twice and referred to the Committee on Finance.
BILL INFO
TypeSenate Bill
NumberS 1459
Congress119th
StatusIn Committee
IntroducedApr 10, 2025
Last actionApr 10, 2025
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IN COMMITTEE· 119TH CONGRESS · FINANCE COMMITTEE · INTRODUCED APR 10, 2025
Senate BillS 1459Taxation
Historic Tax Credit Growth and Opportunity Act of 2025
INTRODUCED APR 10, 2025· LAST ACTION APR 10, 2025
PASSAGE CHANCES
—%
READING
6 min
COSPONSORS
13
COMPLEXITY
Moderate
