Bill > HR158

This bill, the Rehabilitation of Historic Schools Act of 2019, amends the Internal Revenue Code to allow rehabilitation expenditures for public school buildings to qualify for the rehabilitation tax credit. Specifically, it adds a new clause stating that the existing limitation on certain rehabilitated buildings does not apply to buildings that are qualified public educational facilities, which are defined as school facilities that are part of a public elementary or secondary school and are owned by a private, for-profit corporation pursuant to a public-private partnership agreement with a state or local educational agency. The bill also requires the Secretary of the Treasury to report to Congress on the effects of this amendment within 5 years after its enactment.