Bill in Virginia Legislature Would Add Public School Buildings to State HTC
Legislation prefiled Tuesday in the Virginia statehouse would expand the state’s historical rehabilitation tax credit (HTC) to include public schools. H.B. 2109 would allow for improvements or reconstruction of public-school buildings that are at least 50 years old. The credit has a $5 million annual cap. The bill would apply retroactively as of Jan. 1.
The Novogradac Introduction to Historic Tax Credits includes the basics of the HTC incentive, including state credits.