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Alabama DOR Proposes Amendments to State HTC Regulations

Wednesday, November 8, 2023 - 1:30PM

The Alabama Department of Revenue (DOR) has proposed amendments to its state historic tax credit (HTC) regulations, due to the passage of HB 253. One amendment would require the project to be placed in service before a nonprofit claims the credit and would allow other taxpayers to claim the credit either in the year the reservation is allocated to the project or the year the property is placed in service. Another set of amendments would change the information required in an HTC transfer agreement. A hearing on the amendments takes place Dec. 5 at 1:30 p.m. ET.

The Novogradac Historic Rehabilitation Handbook provides an overview of the HTC and the intricacies of the federal and state incentives.

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