Tax credits for converting vacant commercial buildings into housing

Liccardo proposes federal tax credits to help finance the conversion of vacant offices and other commercial buildings, including hotels and malls, into housing. Federal tax-credit allocations could be conditioned on state and local governments streamlining approvals, allowing downtown zoning changes by right, reducing or waiving fees, and exempting projects from environmental review; participating cities could also offer property-tax abatements for projects with a defined share of rent-restricted affordable units. Local governments would not have to participate.

Context: The proposal focuses federal support on conversions that are feasible; the text estimates that only about 15–20% of office buildings in most downtowns can be converted. A property-tax abatement and the share of rent-restricted units are presented as possible program features, not fixed requirements.

In their own words

Congress can dramatically reduce the financing costs by authorizing tax credits

The source

Housing Affordability — samliccardo.com

Published: Original date not established; campaign context manually checked
Retrieved: 11/12/2026