Connecticut Legislation Would Make State HTC Refundable Starting in 2024
A bill in the Connecticut Legislature would make the state’s historic tax credit (HTC) refundable beginning in 2024. H.B. 6920 would allow the HTC to be carried forward up to five years for taxpayers issued a rehabilitation voucher issued before Jan. 1, 2024, but subsequent credits would be refundable. The Connecticut HTC is for 25% of qualified rehabilitation expenditures (QREs) for residential properties with five or more units, mixed residential or nonresidential use if it is consistent with the historic character of the property or district.
The 2023 Novogradac Historic Rehabilitation Handbook provides an overview of the federal and state HTC incentive.