Summary: H.R.3715 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.3715. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (10/01/2009)

Community Restoration and Revitalization Act of 2009 - Amends the Internal Revenue Code relating to the building rehabilitation tax credit to: (1) allow an increased 30% credit for projects involving $7.5 million or less in rehabilitation expenditures; (2) allow rehabilitated buildings used for lodging to qualify for such credit; (3) establish a 50-year placed-in-service requirement for non-historic rehabilitated buildings; (4) allow such credit for certain tax-exempt use property; (5) provide for the transferability of such credit; (6) increase the energy efficiency tax credit allowed to rehabilitated buildings; and (7) exempt from taxation refunds attributable to state historic tax credits.