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Colorado Bill Extends State HTC to 2036, Creates Affordable Housing Set-Aside

Wednesday, May 29, 2024 - 9:37AM

Legislation to extend the Colorado state historic tax credit (HTC), among other changes to the incentive’s provisions, was signed into law Tuesday by Gov. Jared Polis. H.B. 1314 extends the expiration date of the credit from Dec. 31, 2029, to Dec. 31, 2036. Additionally, the bill creates a separate pool of $5 million for properties that are at least 50% affordable housing rental homes. The bill decreases the age of a property eligible to receive the credit to 30 years from 50 years, limits the credit to qualifying rehabilitation expenditures (QRE) incurred for 12 months before the application of the credit rather than 24 months, doubles the taxpayer cap for residential QREs to $100,000 and remove a 5% boost for properties in a disaster area. The bill takes effect Aug. 7.

Learn more about state and federal HTCs at the Novogradac 2024 Historic Tax Credit Conference Oct. 10-11 in Kansas City, Missouri.

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