OverviewThe REHAB Act (H.R. 1483) is a bipartisan bill designed to address the shortage of walkable, accessible areas in urban environments. By offering a federal tax credit, it aims to stimulate the redevelopment of non-historic buildings near public transportation, fostering new housing and business opportunities in desirable downtown areas and other walkable locations.The Need for the REHAB ActCurrent development trends are heavily skewed towards sprawling suburbs, leading to a scarcity of accessible housing and business spaces in urban centers.
The REHAB Act seeks to rectify this by providing critical financial support to local builders, enabling them to revitalize downtown areas, improve public infrastructure, and increase access to attainable housing.Benefits and QualificationsProjects that qualify for the maximum tax credit under the REHAB Act are those that not only redevelop sites near transit but also contribute to the community by adding new units of attainable housing and investing in public infrastructure enhancements like improved bus stops, street lighting, sidewalks, bike lanes, and more.Legislative ContextIntroduced by Rep. Earl Blumenauer (D-OR) and co-sponsored by Rep. Mike Kelly (R-PA-16), Rep. Gerald E. Connolly (D-VA-11), and Rep. Dina Titus (D-NV-1)., the REHAB Act is a key proposal for future infrastructure or stimulus bills, especially in response to the COVID-19 pandemic. It aligns with the current need for development and infrastructure investments.