Campaign position · Original date not established
Tax credits for converting vacant commercial buildings into housing
AI-assisted summary
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.