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Arkansas Extends, Clarifies Historic Tax Credit Program

Thursday, March 26, 2015 - 7:00AM

Arkansas Gov. Asa Hutchinson on Monday signed into law Act 567, which extends the state historic tax credit (HTC) program through 2027. The legislation amends the Arkansas Historic Rehabilitation Income Tax Credit Act to define “certified rehabilitation” as the total of appropriate and approved rehabilitation work on an eligible property that results in a substantial rehabilitation of an eligible property that has been issued an eligibility certificate. Act 567 also adds a provision to the statute that allows each eligible property to receive the state historic tax credit only once in any 24-month period, beginning with the March 20 effective date of the act.

Tune into the March 31episode of the Tax Credit Tuesday podcast to learn more about the legislation.

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