Revenue and taxation; rehabilitation of historic structures; revise tax credit
Income taxes: credits: rehabilitation of certified historic structures.
Income tax; rehabilitation of certified structures; increase amount of tax credits
Income taxes, state income tax credit for qualified rehabilitation expenses of certified historic properties extended, annual credit amount increased
Income taxes, state income tax credit for qualified rehabilitation expenses of certified historic properties extended, annual credit amount increased
An Act to Expand the Historic Property Rehabilitation Tax Credit
Establishes the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program for qualified rehabilitation expenditures totaling fifty million dollars or more with respect to a certified historic structure that has been vacant, as determined by local code enforcement or other reasonable means, for at least ten of fifteen consecutive years preceding the date of the taxpayer's application for the rehabilitation credit.
Establishes the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program for qualified rehabilitation expenditures totaling fifty million dollars or more with respect to a certified historic structure that has been vacant, as determined by local code enforcement or other reasonable means, for at least ten of fifteen consecutive years preceding the date of the taxpayer's application for the rehabilitation credit.
Second assignment of the historic structure rehabilitation credit permission
Income and corporate franchise taxes; second assignment of historic structure rehabilitation credit allowed, and requirements for issuing allocation certificates modified.