Protecting America From Spies Act

House Bill

H.R. 419

119th Congress

Protecting America From Spies Act

In Committee

Introduced:Aug 29, 2025

Primary Sponsor

Chip Roy

Representative

Republican

TX-21

Cosponsors

9

Quick Stats

Policy Area

Taxation

Summary

The Revitalizing Downtowns Act would provide a 20% tax credit to encourage the conversion of older office buildings into residential, retail, or other commercial uses. This would help revitalize downtown areas by incentivizing the repurposing of vacant or underutilized office spaces.

Latest Action

Referred to the House Committee on Ways and Means.

SponsorChip Roy (R-TX)

Introduced8/29/2025

StatusReferred to the House Committee on the Judiciary.

ChamberHouse

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Vote Prediction

Protecting America From Spies Act

The Revitalizing Downtowns Act would provide a 20% tax credit to encourage the conversion of older office buildings into residential, retail, or other commercial uses. This would help revitalize downtown areas by incentivizing the repurposing of vacant or unde

Community Breakdown

Pass

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Fail

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0 predictions

The Revitalizing Downtowns Act would provide a 20% tax credit to encourage the conversion of older office buildings into residential, retail, or other commercial uses. This would help revitalize downtown areas by incentivizing the repurposing of vacant or underutilized office spaces.

Bill Number: 419
Sponsor: Chip Roy (R-TX)
Introduced: 8/29/2025
Status: Referred to the House Committee on the Judiciary.
Policy Area: Taxation

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Protecting America From Spies Act
Bill Number: 419
Sponsor: Chip Roy (R-TX)
Status: Referred to the House Committee on the Judiciary.
Introduced: 8/29/2025
Summary: The Revitalizing Downtowns Act would provide a 20% tax credit to encourage the conversion of older office buildings into residential, retail, or other commercial uses. This would help revitalize downtown areas by incentivizing the repurposing of vacant or underutilized office spaces.

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

The Revitalizing Downtowns Act would provide a 20% tax credit to encourage the conversion of older office buildings into residential, retail, or other commercial uses. This would help revitalize downtown areas by incentivizing the repurposing of vacant or underutilized office spaces.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Revitalizing Downtowns Act This bill expands the investment tax credit to add a qualified office conversion credit. The amount of such credit is 20% of the qualified conversion expenditures with respect to a qualified converted building. The bill defines qualified converted building as any building if (1) prior to conversion, the building was nonresidential real property which was leased, or available for lease, to office tenants; (2) the building has been substantially converted from an office use to a residential, retail, or other commercial use; (3) the building was initially placed in service at least 25 years prior to the beginning of the conversion, and (4) straight line depreciation is allowable with respect to the building.

Key Points

Main provisions of the bill

Establishes a new 20% tax credit for qualified expenses to convert old office buildings into other commercial or residential uses
Applies to buildings that have been in service for at least 25 years and are being substantially converted from office to other purposes
Aims to help revitalize downtown areas by encouraging the repurposing of vacant or underutilized office spaces

How This Impacts Americans

Potential effects on citizens and communities

If passed, this bill would primarily impact commercial property owners and developers who own or operate older office buildings in downtown areas. It would give them a financial incentive to invest in converting those properties to new uses, which could help breathe new life into struggling urban centers by creating more housing, retail, and other commercial activity.

Policy Areas

Primary Policy Area

Taxation

Related Subjects

Building construction

Housing supply and affordability

Income tax credits

Urban and suburban affairs and development

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

419, 119th Congress (2025). "Protecting America From Spies Act". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-419

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