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Arizona Legislation Would Create 20% State Historic Tax Credit

Wednesday, March 30, 2022 - 1:15PM

A bill introduced in the Arizona House of Representatives would create a state historic tax credit (HTC) worth 20% of qualified rehabilitation expenditures (QREs). H.B. 2760 would create the credit–which could be issued to properties that meet the standards of the federal HTC–with the requirement that 60% of the state HTCs in the first round of each year be issued to cities with fewer than 150,000 residents. There would be an annual statewide cap of $15 million, with an enactment date of Jan. 1, 2023, and a sunset date of Dec. 31, 2032.

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