26 U.S.C. § 47

26 U.S.C. § 47 pertains to the rehabilitation of certain properties for tax purposes. It allows property owners who renovate or restore historical buildings, low-income housing, and other qualified structures to claim tax credits. These credits reduce the overall tax burden, providing financial incentives for improvements that enhance community value. Essentially, it encourages investment in older or underdeveloped properties, supporting economic revitalization while preserving cultural heritage. The law outlines specific criteria and procedures to qualify for these benefits, ensuring that the renovations meet certain standards.