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HR419-118

Introduced

To amend the Internal Revenue Code of 1986 to provide an investment credit for the conversion of office buildings into other uses.

118th Congress Introduced Jan 20, 2023

Summary

What This Bill Does

The bill requires credit for qualified office conversion Section 46 of the Internal Revenue Code of 1986 is amended by redesignating paragraph (7) as paragraph (8), by redesignating the paragraph (6) relating to the advanced and requires qualified office conversion credit. It relies on definition changes, tax rate changes, compliance mandates, and exemptions. The main policy areas are Education and Housing.

Who Benefits and How

Lobbyists, political organizations, and disclosure users affected by the bill could face lower compliance burdens, Homeowners, tenants, or housing market participants affected by the bill could face lower compliance burdens, and Educational institutions and students affected by the bill could face lower compliance burdens.

Who Bears the Burden and How

Federal, state, or local agencies responsible for implementing the clause would take on compliance duties.

Key Provisions

  • Requires credit for qualified office conversion Section 46 of the Internal Revenue Code of 1986 is amended by redesignating paragraph (7) as paragraph (8), by redesignating the paragraph (6) relating to the advanced...
  • Requires qualified office conversion credit.

Evidence Chain:

This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.

At a Glance

What This Bill Does

The bill requires credit for qualified office conversion Section 46 of the Internal Revenue Code of 1986 is amended by redesignating paragraph (7) as paragraph (8), by redesignating the paragraph (6) relating to the advanced and requires qualified office conversion credit.

Key Policy Areas

Education, Housing

Primary Purpose

The bill requires credit for qualified office conversion Section 46 of the Internal Revenue Code of 1986 is amended by redesignating paragraph (7) as paragraph (8), by redesignating the paragraph (6) relating to the advanced and requires qualified office conversion credit.

Policy Domains

Education Housing

Whole bill

Identified Gains
  • Lobbyists, political organizations, and disclosure users affected by the bill
  • Homeowners, tenants, or housing market participants affected by the bill
  • Educational institutions and students affected by the bill
Model: codex-gpt-5:bulk-repair | Version: bill_summary_v2 | Source: ih
Educational institutions and students affected by the bill: ,
Homeowners, tenants, or housing market participants affected by the bill: ,
Lobbyists, political organizations, and disclosure users affected by the bill: ,
Identified Costs
  • Federal, state, or local agencies responsible for implementing the clause
Model: codex-gpt-5:bulk-repair | Version: bill_summary_v2 | Source: ih
Federal, state, or local agencies responsible for implementing the clause: ,

Sponsors

Jimmy Gomez

Jimmy Gomez

D-CA | Primary Sponsor

2 cosponsors

Legislative Progress

Introduced
Introduced Committee Passed
Jan 20, 2023

Mr. Gomez (for himself, Mr. Larson of Connecticut, and Mr. …

Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →

Bill Structure & Actor Mappings

Who is "The Secretary" in each section?

Domains
Education Housing

We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.

Learn more about our methodology