The Rehabilitation of Historic Schools Act of 2026 modifies the federal tax code to allow public school building rehabilitation projects to qualify for the rehabilitation tax credit, a financial incentive previously unavailable to public schools. This change would enable school districts and states to receive federal tax credits when they invest in restoring historic or aging school buildings, potentially reducing the cost of modernization and repair projects. The bill affects public schools nationwide that have been in use within the past five years and continue operating as educational facilities after rehabilitation. Within five years of enactment, the Treasury Department must report to Congress on the program's impact, including how many schools benefited by state, how many students were affected, the spending amounts involved, and whether the credits particularly helped low-income communities. The tax credit incentive applies to any school buildings placed in service after the law takes effect.
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