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119-s-5480119th CongressWALLET

School Infrastructure Modernization Act of 2026

Sponsored By: Senator Kaine, Tim [D-VA]

Introduced

Summary

Changes how the rehabilitation tax credit treats public school buildings. It would carve out public-school rehab projects that were used as a qualified public educational facility during the five years before rehabilitation and are used as such after rehab, altering which projects can claim the credit.

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  • School districts and students: Buildings used as public schools at any time in the five years before rehab and reused as schools after would be subject to a specific carve-out, changing which school renovations can qualify for the rehabilitation tax credit.
  • Owners and developers: They would need to document a building's five-year use history to determine whether a school rehabilitation project qualifies for the credit.
  • Treasury and Congress: The Secretary of the Treasury must report to Congress five years after enactment with state-by-state counts of rehabilitated public education facilities, student totals, counts for low-income communities, the amount of rehabilitation expenditures per facility, and any other useful data. The amendment would apply to property placed in service after Dec. 31, 2026.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Tax credit help for public schools

This bill would let owners of public school buildings claim the federal rehabilitation tax credit for more projects. The exemption applies when a building was used as a qualified public educational facility at any time during the five years before rehabilitation begins and is used as a school after rehabilitation. The rule refers to the definition in section 142(k)(1) as written in the bill. The change would apply only to property placed in service after December 31, 2026. Five years after enactment, the Treasury Secretary would report to Congress on how many school facilities were rehabbed, amounts spent, student counts by state, low-income community activity, and other useful data.

Sponsors & CoSponsors

Sponsor

Kaine, Tim [D-VA]

VA • D

Cosponsors

  • Sen. Warner, Mark R. [D-VA]

    VA • D

    Sponsored 9/23/2026

Roll Call Votes

No roll call votes available for this bill.

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