[Congressional Record Volume 167, Number 39 (Tuesday, March 2, 2021)]
[Extensions of Remarks]
[Page E189]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        INTRODUCTION OF THE PUBLIC BUILDINGS RENEWAL ACT OF 2021

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                          HON. EARL BLUMENAUER

                               of oregon

                    in the house of representatives

                         Tuesday, March 2, 2021

  Mr. BLUMENAUER. Madam Speaker, today I introduced the Revitalizing 
Economies, Housing, and Businesses (REHAB) Act of 2021. This 
legislation incentivizes equitable transit-oriented development by 
providing a 15 percent tax credit for expenses related to the 
rehabilitation of buildings that are more than 50 years old, including 
adjacent development on the same block, provided that the project is 
within a half-mile of an existing or planned public transportation 
center. The legislation also provides a bonus credit of 25 percent for 
expenses associated with the provision of affordable housing and public 
infrastructure.
  While existing community development incentives do an excellent job 
at targeting their segment of the market, there is a noticeable gap in 
equitable transit-oriented development. As more Americans move to urban 
areas, communities face difficult decisions in accommodating increased 
congestion and affordability concerns, all while seeking to keep their 
carbon footprint light. By focusing on the rehabilitation of existing 
assets that are near public transportation, projects are lighter on the 
land and residents can more easily access jobs and services via 
transit. Encouraging affordable housing investments in transit-rich 
areas will transform areas that are often some of the least affordable. 
Taken together, provisions in the REHAB Act encourage preservation, 
accessibility, and affordability and will create more livable 
communities.
  I look forward to working with my colleagues in the House and Senate 
to include this legislation in an upcoming infrastructure investment 
package.

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