S.1459

Historic Tax Credit Growth and Opportunity Act of 2025 amends the Internal Revenue Code to enhance the historic rehabilitation tax credit.

The Historic Tax Credit Growth and Opportunity Act of 2025 amends the Internal Revenue Code to improve the historic rehabilitation tax credit. It allows the full credit in the year the building is placed in service, increases the types of buildings eligible for rehabilitation, and raises the credit for certain small projects. The bill also modifies disqualified lease rules and eliminates the rehabilitation credit basis adjustment. These changes apply to property placed in service after the enactment date of the Act.