Rehabilitation of Historic Schools Act of 2023

This bill amends the tax code to allow public school buildings to qualify for rehabilitation tax credits, which were previously excluded from such benefits. It specifically removes a restriction that prevented public schools from claiming these credits if they were used as educational facilities during a five-year period before renovation. The policy directly affects public schools that were used for education within five years prior to rehabilitation and continue operating as schools afterward. The change applies to properties placed in service after the bill's enactment, enabling tax incentives for rehabilitating these facilities.