Bill Introduced to Extend, Expand North Carolina State HTC
A bipartisan group of 34 state representatives introduced legislation in the North Carolina House of Representatives to extend and expand the state historic tax credit (HTC). H.B. 399 would extend the HTC sunset date from Jan. 1, 2020, to Jan. 1, 2030, and would increase the maximum amount of qualified rehabilitation expenses eligible for the 15 percent and 10 percent state HTC. The legislation would increase the cap for HTCs awarded in areas that get a 5 percent boost and would add a 5 percent HTC bonus for property in declared disaster areas.