Revitalizing Downtowns Act
Official title: To amend the Internal Revenue Code of 1986 to provide an investment credit for the conversion of office buildings into other uses.
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Referred to the House Committee on Ways and Means.
Revitalizing Downtowns Act
This bill expands the investment tax credit to add a qualified office conversion credit. The amount of such credit is 20% of the qualified conversion expenditures with respect to a qualified converted building. The bill defines qualified converted building as any building if (1) prior to conversion, the building was nonresidential real property which was leased, or available for lease, to office tenants; (2) the building has been substantially converted from an office use to a residential, retail, or other commercial use; (3) the building was initially placed in service at least 25 years prior to the beginning of the conversion, and (4) straight line depreciation is allowable with respect to the building.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 4759: Revitalizing Downtowns Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-4759/
"H.R. 4759: Revitalizing Downtowns Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-4759/.
H.R. 4759, 117th Cong. (2026), https://openamerica.io/bill/117-HR-4759/.
[H.R. 4759: Revitalizing Downtowns Act](https://openamerica.io/bill/117-HR-4759/)