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Bill Would Limit Virginia HTC to $5 Million per Taxpayer per Year

Monday, January 9, 2017 - 10:30AM

A bill pre-filed in the Virginia state Senate would limit the annual amount of the state historic tax credit to $5 million per taxpayer, beginning in 2017. SB 1034 was introduced by state Sen. Janet D. Howell without cosponsors and was referred to the Committee on Finance. The Virginia HTC, which began in 1997, is for 25 percent of qualified rehabilitation expenses. There is no transaction or statewide cap.

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