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S. 2266 117th Congress Senate

Historic Tax Credit Growth and Opportunity Act of 2021

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

Introduced: November 18, 2021 See on congress.gov
Taxation Building constructionHistoric sites and heritage areasIncome tax creditsResidential rehabilitation and home repairTax-exempt organizations
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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
Jun 24, 2021
Read twice and referred to the Committee on Finance.
Jun 24, 2021
Introduced in Senate
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 Latest action June 24, 2021

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Historic Tax Credit Growth and Opportunity Act of  2021

This bill increases the rehabilitation tax credit and modifies certain requirements for the credit.

The bill increases the rate of the credit to 30%  for small projects (rehabilitation expenditures not exceeding $3.75 million) and caps the credit for such projects at $750,000 for all taxable years.

The bill also expands the types of buildings eligible for rehabilitation by decreasing the rehabilitation threshold from 100% to 50% of project expenses. It also eliminates the basis adjustment requirement for the credit and modifies rules relating to the eligibility of tax-exempt use property for the credit.

 Related & companion bills 1
  • HR 2294 Historic Tax Credit Growth and Opportunity Act of 2021
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 12
All 12 Democratic 7 Republican 5
D
Klobuchar, Amy
Minnesota · Dec 14, 2022
 R
Hyde-Smith, Cindy
Mississippi · May 10, 2022
 R
Wicker, Roger F.
Mississippi · May 3, 2022
 D
Peters, Gary C.
Michigan · Mar 15, 2022
 D
Coons, Christopher A.
Delaware · Nov 18, 2021
 R
Moran, Jerry
Kansas · Nov 4, 2021
 D
Gillibrand, Kirsten E.
New York · Oct 20, 2021
 D
Whitehouse, Sheldon
Rhode Island · Oct 20, 2021
 D
Van Hollen, Chris
Maryland · Sep 15, 2021
 D
Cantwell, Maria
Washington · Jun 24, 2021
 R
Cassidy, Bill
Louisiana · Jun 24, 2021
 R
Collins, Susan M.
Maine · Jun 24, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2266: Historic Tax Credit Growth and Opportunity Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-S-2266/
MLA
"S. 2266: Historic Tax Credit Growth and Opportunity Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-2266/.
Bluebook (legal)
S. 2266, 117th Cong. (2026), https://openamerica.io/bill/117-S-2266/.
Markdown link
[S. 2266: Historic Tax Credit Growth and Opportunity Act of 2021](https://openamerica.io/bill/117-S-2266/)
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