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Florida Legislation Would Create 20% State HTC, with Bonus for Certain Properties

Wednesday, January 3, 2024 - 11:58AM

A bill introduced this week in the Florida Senate would create a state historic tax credit (HTC) worth 20% of qualified rehabilitation expenditures (QREs) with a 10% bonus for properties in an active Main Street program area. S.B. 1166 would create a credit with an annual project cap of $200,000 and a multiyear project cap of $1 million. The statewide annual cap would be $25 million. The credit would take effect July 1. This is the fourth straight year that such a bill was introduced.

The January issue of the Novogradac Journal of Tax Credits focuses on state tax credits, including the 39 states with HTCs.

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