A bill to amend the Internal Revenue Code of 1986 to expand the rehabilitation credit, and for other purposes.

[AI summary unavailable — showing source text] 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.…