Relance Logement Scheme
Legal and tax framework for the new depreciation mechanism for private landlords - Act No. 2026-103, article 12 octies
Official presentation
The Relance Logement Scheme, commonly referred to as the "Jeanbrun scheme" after the Minister for Cities and Housing Vincent Jeanbrun, is a tax depreciation mechanism for private landlords. Established by article 12 octies of Act No. 2026-103 of 19 February 2026 (Finance Act for 2026), it succeeds the Pinel scheme which ended on 31 December 2024.
Unlike the Pinel scheme which offered a direct tax reduction, the Relance Logement Scheme is based on an annual depreciation deductible from rental income and chargeable against overall income. This change in mechanism represents a significant shift in tax policy regarding rental property investment. The government's objective is to contribute to the construction of 400,000 dwellings per year, of which 50,000 directly from the scheme.
Key features
Legislative framework
The Relance Logement Scheme underwent a complex parliamentary process as part of the Finance Bill for 2026.
Parliamentary timeline
Daubresse-Cosson Report
Submission of the report "Pour une relance durable de l'investissement locatif" by LR senator Marc-Philippe Daubresse and MoDem member of parliament Mickaël Cosson to Valérie Létard, Minister for Housing.
Appointment of Vincent Jeanbrun
Vincent Jeanbrun is appointed Minister for Cities and Housing. The scheme will bear his name in public debate.
Filing of PLF 2026
The Finance Bill 2026 (No. 1906) is filed at the National Assembly. The scheme is incorporated through several amendments, including amendment I-582 (Rect) by Charles de Courson and amendment I-3970.
Vote at the National Assembly
The Assembly adopts a cross-party compromise by 158 votes to 49, before rejecting the overall budget (404 votes against).
Adoption by the Senate
The Senate adopts the text after a government sub-amendment (No. I-2752) reducing the budgetary cost from 4.7 billion euros to 1.2 billion euros.
Failure of the Joint Committee
The Joint Committee (CMP) fails to reach an agreement between the National Assembly and the Senate.
Use of Article 49.3 (first reading)
Prime Minister Sébastien Lecornu invokes Article 49, paragraph 3 of the Constitution, staking the government's responsibility on the text.
Official presentation
The government officially presents the scheme under the name "Relance Logement".
Use of Article 49.3 (new reading)
The Prime Minister once again invokes Article 49.3, staking the government's responsibility on the text in the new reading at the National Assembly.
Text deemed adopted (National Assembly)
The text is deemed adopted by the National Assembly, no motion of censure having succeeded.
Rejection by the Senate
The Senate rejects the text by adopting a preliminary question (question prealable).
Definitive adoption of the 2026 budget
The 2026 budget is definitively adopted by the National Assembly following a last use of Article 49.3 of the Constitution. Motions of censure filed are rejected.
Referrals to the Conseil constitutionnel
The Conseil constitutionnel is referred by four applicants: La France Insoumise (LFI), Rassemblement National (RN), Parti Socialiste (PS) and Ecologistes.
Conseil constitutionnel decision
Decision No. 2026-901 DC of 19 February 2026: the Conseil constitutionnel upholds the Finance Act for 2026. Article 12 octies (Relance Logement Scheme) was not challenged by any of the referrals and was not struck down.
Enactment
Act No. 2026-103 of 19 February 2026 (Finance Act for 2026) is enacted by the President of the Republic.
Publication in the Journal officiel
The Finance Act for 2026 is published in the Journal officiel de la Republique francaise No. 0043 of 20 February 2026.
Implementing texts
Publication of the implementing texts (form 2044-EB, 2026 rent-cap scale, conditions for agreements): the scheme is fully applicable.
Legislative references
| Reference | Subject |
|---|---|
| Act No. 2026-103 of 19 February 2026 | Finance Act for 2026 (JO No. 0043 of 20/02/2026) |
| Article 12 octies | Creation of the depreciation mechanism for private landlords |
| CC Decision No. 2026-901 DC | Conseil constitutionnel decision of 19 February 2026 upholding the Finance Act |
| Amendment I-582 (Rect) | Amendment by Charles de Courson establishing the scheme |
| Amendment I-3970 | Prohibition of rental to ascendants/descendants and in-laws (2nd degree) |
| Sub-amendment I-2752 | Budgetary framework reducing cost to 1.2 billion euros |
Tax mechanism
The Relance Logement Scheme introduces an annual depreciation on the basis of 80% of the property purchase price (excluding land estimated at 20%). Rates and caps vary depending on the property type and the rent level applied.
Depreciation rates - New housing
Applicable to new or off-plan (VEFA) dwellings, compliant with RE2020 and holding an EPC (Energy Performance Certificate) class A or B, completed after 1 January 2026.
| Rent level | Rent cap | Annual rate | Annual cap |
|---|---|---|---|
| Intermediate | Pinel cap | 3.5% | 8,000 euros |
| Social | municipality-specific social ceiling | 4.5% | 10,000 euros |
| Very social | municipality-specific very-social ceiling | 5.5% | 12,000 euros |
Depreciation rates - Older housing with renovation
Applicable to older dwellings located in apartment buildings, with renovation works amounting to at least 30% of the purchase price and an EPC class A or B after works.
| Rent level | Rent cap | Annual rate | Annual cap |
|---|---|---|---|
| Intermediate | Pinel cap | 3% | 8,000 euros |
| Social | municipality-specific social ceiling | 3.5% | 10,000 euros |
| Very social | municipality-specific very-social ceiling | 4% | 12,000 euros |
Property deficit
The depreciation is deductible from rental income. When deductible expenses (including depreciation) exceed rental income, a property deficit is created:
- Deductible from overall income up to a limit of 10,700 euros per year (or 21,400 euros per year in the case of energy renovation of a property rated EPC E, F or G upgraded to A, B, C or D)
- The surplus can be carried forward against rental income for the following 10 years
Eligibility conditions
Eligible properties
New / off-plan (VEFA) housing
- Located in an apartment building
- Compliant with RE2020
- EPC (Energy Performance Certificate) class A or B
- Completed after 1 January 2026
Older housing with renovation
- Located in an apartment building
- Renovation works minimum 30% of purchase price
- EPC class A or B after works
- Apartment buildings only
Landlord commitments
| Commitment | Details |
|---|---|
| Rental duration | 9 years (fixed duration, no choice) |
| Type of rental | Unfurnished rental |
| Property use | Tenant's primary residence |
| Rent caps | Pinel caps by ABC zone |
| Income limits | Tenant income conditions (decrees to be published) |
Restrictions
Application period
The scheme applies to acquisitions made between 1 January 2026 and 31 December 2028. Act No. 2026-103 was enacted on 19 February 2026. The scheme is fully applicable; the implementing texts and the 2026 rent-cap scale have been published.
Rent caps
The rent caps of the Relance Logement Scheme are based on Pinel caps by ABC zone. Three levels are provided: intermediate (Pinel cap, no discount), social (municipality-specific social ceiling) and very social (municipality-specific very-social ceiling).
| Zone | Intermediate (Pinel) | Social (municipality-specific social ceiling) | Very social (municipality-specific very-social ceiling) |
|---|---|---|---|
| A bis | 19.71 €/m² | Official municipal schedule | Official municipal schedule |
| A | 14.64 €/m² | Official municipal schedule | Official municipal schedule |
| B1 | 11.80 €/m² | Official municipal schedule | Official municipal schedule |
| B2 | 10.26 €/m² | Official municipal schedule | Official municipal schedule |
| C | 10.26 €/m² | Official municipal schedule | Official municipal schedule |
The 2026 scale is in force; social and very-social caps may be adjusted at municipal level.
Comparison of property tax schemes
The table below compares the main rental investment schemes in France.
| Criterion | Pinel | Denormandie | Loc'Avantages | Relance Logement |
|---|---|---|---|---|
| Period | 2014-2024 | Until 31/12/2027 | In force | 2026-2028 |
| Mechanism | Tax reduction | Tax reduction | Tax reduction | Depreciation |
| Rate/Benefit | 9% to 14% of price | 12% to 21% of price | 15% to 65% of income | 3% to 5.5% per year |
| Duration | 6, 9 or 12 years | 6, 9 or 12 years | 6 years minimum | 9 years fixed |
| Zoning | A bis, A, B1 | Eligible municipalities | None | None |
| Property type | New | Older with works | Older | New and older |
| Apartment buildings | Yes (since 2021) | Not required | Not required | Mandatory |
| Property deficit | 10,700 euros | 10,700 euros | 10,700 euros | 10,700 euros (or 21,400 euros) |
| Budgetary cost | 7.3 bn euros | - | - | 1.2 bn euros |
Regulatory tracking
Status of the regulatory texts required for the implementation of the Relance Logement Scheme.
Published texts
Finance Act for 2026 containing article 12 octies establishing the Relance Logement Scheme. Enacted on 19 February 2026, published in the Journal officiel No. 0043 of 20 February 2026.
The Conseil constitutionnel upheld the Finance Act for 2026. Article 12 octies (Relance Logement Scheme) was not challenged by any of the four referrals (LFI, RN, PS, Ecologistes) and was not struck down.
Pending texts
Decrees setting out the implementation procedures, form 2044-EB, and the conditions for agreements. Published — the scheme is applicable (2026 rent-cap scale).
Tax authority instructions specifying the conditions for application and reporting obligations.
Orders setting rent caps by municipality and tenant income limits for 2026.