H.R.2479 - Creating American Prosperity through Preservation Act of 2011

To amend the Internal Revenue Code of 1986 to expand the rehabilitation credit, and for other purposes. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to expand the rehabilitation credit, and for other purposes. as introduced.
  • Short: Creating American Prosperity through Preservation Act of 2011 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
07/08/11
 
 
 
 
 
 
 

Sponsor

Representative

Aaron Schock

R-IL

View Co-Sponsors (51)

Official Summary

Creating American Prosperity through Preservation Act of 2011 - Amends the Internal Revenue Code, with respect to tax credits for building rehabilitation expenditures, to: (1) allow an increased 30% credit for projects involving $7.5 million or less in rehabilitation expenditures, (2) provi

Official Summary

Creating American Prosperity through Preservation Act of 2011 - Amends the Internal Revenue Code, with respect to tax credits for building rehabilitation expenditures, to:
(1) allow an increased 30% credit for projects involving $7.5 million or less in rehabilitation expenditures,
(2) provide for an additional 2% credit amount for a building that is a qualified energy efficient rehabilitated building (increased energy efficiency of 30% or more),
(3) change the placed-in-service requirement for non-historic rehabilitated buildings from before 1936 to 50 years prior to the year in which qualified rehabilitation expenditures are taken into account, and
(4) exempt from tax the proceeds of a state historic tax credit.

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