# Plain Language Summary: Rehabilitation of Historic Schools Act of 2021

This bill makes it easier for people and organizations to get tax breaks when they fix up old school buildings. Right now, there's a federal tax credit that rewards people for restoring historic buildings—basically, the government gives you money back on your taxes as a reward for preserving important old structures. However, this tax credit currently doesn't apply to public school buildings. This bill changes that rule and allows public schools to qualify for these tax credits when they undergo rehabilitation work.

Here's what this means in practical terms: If a school district owns an old, historic school building and wants to restore it rather than tear it down and build new, they could now get a significant tax credit to help pay for that restoration work. The same goes for private developers or nonprofits that might purchase and rehabilitate a historic public school building. The tax credit essentially reduces the cost of fixing up these buildings, making it more financially attractive to preserve them rather than demolish them. This could help save architecturally important school buildings that might otherwise be lost, while also potentially creating construction jobs in the process.

The bill also requires the Treasury Department to study the effects of this change and report back to Congress within five years. This helps lawmakers understand whether the tax credit is actually encouraging school building preservation as intended. The new rule would apply to any school building rehabilitation projects that begin after the bill becomes law.

Rehabilitation of Historic Schools Act of 2021

Evans, Dwight

School Infrastructure Modernization Act of 2021 This bill allows rehabilitation expenditures for public school buildings to qualify for the rehabilitation tax credit during a specified five-year period.