To amend the Internal Revenue Code of 1986 to increase the rehabilitation credit for commercial buildings and to provide a rehabilitation credit for principal residences.

Preserving America's Downtowns and Heritage Act of 201 7 This bill amends the Internal Revenue Code to: (1) increase the rate of the rehabilitation tax credit for commercial buildings and for certified historic structures, and (2) allow a new 20% rehabilitation tax credit for certified historic buildings used by a taxpayer as a principal residence.