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Bill In Arizona Would Create State HTC with $30 Million Annual Statewide Cap, Affordable  Housing Bonus

Thursday, February 16, 2023 - 2:30PM

Legislation in the Arizona legislature would create a state historic tax credit (HTC). H.B. 2791 would create a credit worth 20% of qualified rehabilitation expenditures (QREs) for a certified historic structure, with the credit worth 25% of QREs if the property was affordable housing. There would be an annual statewide cap of $30 million. A similar bill was introduced in January, but it had no provision for affordable housing and had a $15 million statewide annual cap.

The Novogradac Introduction to Historic Tax Credits booklet provides an introduction to the fundamentals of the federal and state HTC.

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