Right before the covid-19 crisis began, on March 10, 2020, the Revitalizing Economies, Housing, and Businesses (REHAB) Act, H.R.6175, was introduced in Congress by Rep. Earl Blumenauer (D-OR-3).
The REHAB Act is a proposed new federal rehabilitation tax credit designed to incentivize greater private investment and bring equitable revitalization to whole neighborhoods. The credit is aimed at spurring the rehab of non-historic buildings that are at least 50 years old and near an existing or proposed transit facility.
This will provide an incentive to bring new life to flagging downtowns, encourage greater private investment in public infrastructure, and promote affordability by increasing the supply of high-demand housing in locations close to transit.
To read the full legislative language, click here.
Advocates need your help in urging congressmen to support the REHAB Act. For a step-by-step guide on promoting the REHAB Act, click here.