Bill in Indiana Would Reinstate State’s Commercial HTC

Wednesday, January 11, 2023 - 1:30PM

Legislation in Indiana would create a state commercial historic tax credit (HTC) worth 25% of qualified rehabilitation expenditures (QREs), with a boost to 30% for nonprofit organizations. Indiana currently has a residential HTC only, with a $250,000 statewide cap. The state commercial HTC was eliminated in 2016. S.B. 174 would reinstate the state commercial HTC and would require the property to have been approved for a federal HTC. The credit could be carried forward for up to 10 years.

The Novogradac Historic Rehabilitation Handbook provides insight and guidance on the federal and state HTCs.

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