H.R. 5420 · 109th Congress
Preserve Historic America Act of 2006
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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CarnahanSponsor26 cosponsors · 20 D, 6 R
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Carson
WC
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Clay
EC
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Cleaver
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Gordon
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Holt
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Harris
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Jenkins
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Jones
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Lewis
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Maloney
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Moore
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Michaud
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Nadler
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Payne
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Rangel
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Rothman
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Skelton
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Souder
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Gonzalez
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Lewis
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Schwartz
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Hinchey
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Marshall
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LaHood
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Andrews
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Leach18 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Preserve Historic America Act of 2006 - Amends the Internal Revenue Code to modify the tax credit for rehabilitation of older and historic buildings by: (1) increasing from 20 to 25% the tax credit rate for certified historic structure rehabilitation expenditures; (2) permitting a building at least 50 years old to qualify for the rehabilitation tax credit…
What it does: CRS summary · Introduced in House · May 18, 2006
Preserve Historic America Act of 2006 - Amends the Internal Revenue Code to modify the tax credit for rehabilitation of older and historic buildings by: (1) increasing from 20 to 25% the tax credit rate for certified historic structure rehabilitation expenditures; (2) permitting a building at least 50 years old to qualify for the rehabilitation tax credit (currently, a building must have been placed in service before 1936); (3) permitting qualified rehabilitated buildings to be used for lodging purposes; (4) limiting to 50% the basis reduction for buildings qualifying for the low-income housing and rehabilitation tax credits; (5) allowing an increased rehabilitation tax credit for certain buildings in difficult development areas or which qualify as small rehabilitation projects; (6) exempting tax credits for rehabilitation of certified historic structures from the calculation of the passive activity credit; and (7) permitting the assignment of rehabilitation tax credits.
Allows a new tax credit for 20% of the cost of rehabilitating a qualified historic home. Defines "qualified historic home" as a certified historic structure which has been substantially rehabilitated and which is owned by the taxpayer and is or will be used as the taxpayer's principal residence.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Preserve Historic America Act of 2006
Latest action (May 18, 2006): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 18, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.