diff --git a/CITATION.cff b/CITATION.cff
index 07b51e9f..35e27577 100644
--- a/CITATION.cff
+++ b/CITATION.cff
@@ -36,5 +36,5 @@ abstract: >-
   ANIMATE)
 license: BSD-2-Clause
 commit: 7f1798889b07e02cd126549e1c8ae5b1c89f24cd
-version: 0.4.0
-date-released: '2024-03-30'
+version: 0.5.0
+date-released: '2024-09-30'
diff --git a/README.md b/README.md
index 979bc217..5dee683e 100644
--- a/README.md
+++ b/README.md
@@ -74,6 +74,6 @@ See the Publications section for more information and example of uses of the fra
 
 ## Referencing
 
-If you wish to cite ConStrain in academic work please use: Lei, X., Lerond, J., Jung, Y. J., & Chen, Y. (2023). ConStrain (Version 0.4.0) [Computer software]. https://github.com/pnnl/ConStrain
+If you wish to cite ConStrain in academic work please use: Lei, X., Lerond, J., Jung, Y. J., & Chen, Y. (2024). ConStrain (Version 0.5.0) [Computer software]. https://github.com/pnnl/ConStrain
 
 <!-- Pending DOI for new ConStrain -->
diff --git a/docs/source/conf.py b/docs/source/conf.py
index 5c4a8dce..6180d097 100644
--- a/docs/source/conf.py
+++ b/docs/source/conf.py
@@ -29,9 +29,9 @@
 author = "Pacific Northwest National Laboratory"
 
 # The short X.Y version
-version = "0.4.0"
+version = "0.5.0"
 # The full version, including alpha/beta/rc tags
-release = "0.4.0"
+release = "0.5.0"
 
 # Document class docstrings
 autoclass_content = "both"
diff --git a/pyproject.toml b/pyproject.toml
index 769076ff..13913355 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "ConStrain"
-version = "0.4.0"
+version = "0.5.0"
 description = "ConStrain is a data-driven knowledge-integrated framework that automatically verifies that building system controls function as intended."
 authors = ["Lei, Xuechen <xuechen.lei@pnnl.gov>", "Chen, Yan <yan.chen@pnnl.gov>", "Lerond, Jeremy <jeremy.lerond@pnnl.gov>", "Jung, Yun Joon <yunjoon.jung@pnnl.gov>"]
 readme = "README.md"
diff --git a/setup.py b/setup.py
index a21f8282..631626d5 100644
--- a/setup.py
+++ b/setup.py
@@ -6,7 +6,7 @@
 long_description = (this_directory / "README.md").read_text()
 setup(
     name="constrain",
-    version="0.3.1",
+    version="0.5.0",
     description="ConStrain",
     long_description=long_description,
     long_description_content_type="text/markdown",