S. 1141 · 113th Congress
Creating American Prosperity through Preservation Act of 2013
- Stage
- In committee
- Sponsor
- Benjamin Cardin
- Introduced
- 2013-06-11
- Latest action
- 2013-06-11 · Introduced in Senate
Summary
Creating American Prosperity through Preservation Act of 2013 - 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.