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S 2655 114th Congress Senate

Historic Tax Credit Improvement Act of 2015

Official title: A bill to amend the Internal Revenue Code of 1986 to improve the historic rehabilitation tax credit, and for other purposes.

Introduced: March 9, 2016 See on congress.gov
Taxation Building constructionHistoric sites and heritage areasIncome tax creditsResidential rehabilitation and home repair
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State and local taxationTax-exempt organizations
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 9, 2016
Read twice and referred to the Committee on Finance.
Mar 9, 2016
Introduced in Senate
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 Latest action March 9, 2016

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Historic Tax Credit Improvement Act of 2015

This bill amends the Internal Revenue Code, with respect to the tax credit for the rehabilitation of buildings and historic structures, to: (1) allow an increased 30% credit, up to $750,000, for projects with rehabilitation expenditures not exceeding $3.75 million, for which no credit was allowed in either of the two immediately preceding taxable years (small projects); (2) allow the transfer of tax credit amounts for small projects; (3) treat a building as substantially rehabilitated if rehabilitation expenditures exceed the greater of 50% of the adjusted basis of the building or $5,000 (currently, the greater of the adjusted basis of the building or $5,000); (4) exempt from tax the proceeds of a state historic tax; and (5) limit the application of disqualified lease rules to tax-exempt use property.

 Related & companion bills 1
  • HR 3846 Related bill Historic Tax Credit Improvement Act of 2015
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Democratic 3 Republican 2
R
Wicker, Roger F.
Mississippi · Nov 16, 2016
 D
Peters, Gary C.
Michigan · Sep 7, 2016
 D
Cantwell, Maria
Washington · Jul 14, 2016
 D
Schumer, Charles E.
New York · Apr 25, 2016
 R
Collins, Susan M.
Maine · Mar 9, 2016
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2655: Historic Tax Credit Improvement Act of 2015. 114th Congress. Open America. https://openamerica.io/bill/114-S-2655/
MLA
"S. 2655: Historic Tax Credit Improvement Act of 2015." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-2655/.
Bluebook (legal)
S. 2655, 114th Cong. (2026), https://openamerica.io/bill/114-S-2655/.
Markdown link
[S. 2655: Historic Tax Credit Improvement Act of 2015](https://openamerica.io/bill/114-S-2655/)
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