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Alabama Legislation Would Reinstate State Historic Tax Credit

Friday, March 3, 2017 - 12:30PM

Bills were introduced in both houses of the Alabama Legislature this week to reinstate the state historic tax credit (HTC), effective Jan. 1, 2018. HB 345 and SB 262 would re-establish the credit at 25 percent of qualified rehabilitation expenses with a cap of $5 million for nonresidential properties and $50,000 for residential properties. The annual program cap would be $20 million with a cumulative cap of $200 million for 2018 through 2027, when the credit would sunset. Alabama’s previous state HTC expired May 2, 2016.

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