Rural Historic Tax Credit Improvement Act
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill expands a tax credit provision: 1. Short title This Act may be cited as the Rural Historic Tax Credit Improvement Act, reduces a tax deduction, appropriation, reporting req provision: 2, and adds or tightens a compliance mandate, definition change provision: 3. Elimination of rehabilitation credit basis adjustment Section 50(c) of the Internal Revenue Code of 1986 is amended by adding at the end. It relies on tax credits, tax deductions, appropriations, and reporting requirements. The main policy areas are Finance.
Who Benefits and How
The available clause analysis does not identify a specific beneficiary group.
Who Bears the Burden and How
No clear private burden is identified from the available clause analysis; implementing agencies may still take on administrative work.
Key Provisions
- Expands a tax credit provision: 1. Short title This Act may be cited as the Rural Historic Tax Credit Improvement Act.
- Reduces a tax deduction, appropriation, reporting req provision: 2.
- Adds or tightens a compliance mandate, definition change provision: 3. Elimination of rehabilitation credit basis adjustment Section 50(c) of the Internal Revenue Code of 1986 is amended by adding at the end...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for primary purpose and policy domains.
At a Glance
What This Bill Does
The bill expands a tax credit provision: 1. Short title This Act may be cited as the Rural Historic Tax Credit Improvement Act, reduces a tax deduction, appropriation, reporting req provision: 2, and adds or tightens a compliance mandate, definition change provision: 3. Elimination of rehabilitation credit basis adjustment Section 50(c) of the Internal Revenue Code of 1986 is amended by adding at the end.
Key Policy Areas
Finance
Primary Purpose
The bill expands a tax credit provision: 1. Short title This Act may be cited as the Rural Historic Tax Credit Improvement Act, reduces a tax deduction, appropriation, reporting req provision: 2, and adds or tightens a compliance mandate, definition change provision: 3. Elimination of rehabilitation credit basis adjustment Section 50(c) of the Internal Revenue Code of 1986 is amended by adding at the end.
Policy Domains
Sponsors
Legislative Progress
In CommitteeMrs. Capito (for herself and Mr. Warner) introduced the following …
Read twice and referred to the Committee on Finance.
Introduced in Senate
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?
- "secretary_of_housing_and_urban_development"
- → Secretary of Housing and Urban Development
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