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Arkansas Governor Signs Bills to Expand, Extend State HTC

Monday, April 17, 2023 - 10:30AM

Arkansas Gov. Sarah Huckabee Sanders April 13 signed into law two bills that extend the state’s historic rehabilitation tax credit (HTC) for five years and change the tax credit percentage depending on locale. S.B. 461 changes the tax credit percentage from 25% to 40% for properties in cities with fewer than 10,000 residents, 35% for cities with populations of 10,000 to 50,000 and 30% for properties in cities with more than 50,000 residents. S.B. 462 extends the sunset date for the state’s HTC from June 30, 2025, to June 30, 2030.

The 2023 Novogradac Historic Rehabilitation Handbook provides an overview of the HTC and the intricacies of the incentive.

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