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Connecticut Bill Would Allow Residential HTC to be Taken Against More Taxes

Wednesday, February 21, 2024 - 10:30AM

Legislation introduced in the Connecticut General Assembly would make the state historic residential rehabilitation tax credit (HTC) apply to additional taxes, make it refundable against certain taxes and carry forward against others. H.B. 5190 would make the tax credit refundable against the individual income tax and could be carried forward for four additional years against others. The Connecticut state home HTC is for 25% of qualified rehabilitation expenses (QREs) for residential properties of five units or more.

The Novogradac Historic Rehabilitation Handbook provides an overview of the federal and state-level HTC and the intricacies of the incentive.

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