School Infrastructure Modernization Act of 2023

This bill modifies the federal tax code to allow public schools to qualify for rehabilitation tax credits they previously might have been excluded from. It specifically removes a restriction that prevented tax credits for rehabilitating school buildings used as qualified public educational facilities. The key provision expands access to these credits for public school infrastructure projects, particularly benefiting schools in low-income communities. The bill also requires the Treasury Secretary to report on the program's impact, including facilities rehabilitated, student numbers, and expenditures, within five years of enactment.