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HISTORIC TAX CREDIT MODERNIZATION BILL INTRODUCED

Tuesday, June 18, 2013 - 7:00AM

U.S. Sens. Ben Cardin, D-Md., and Susan Collins, R-Maine, last week introduced the bipartisan Creating American Prosperity Through Preservation (CAPP) Act, which would increase historic tax credit (HTC) eligibility for certain properties. S. 1141 would increase the HTC from 20 percent to 30 percent for projects with $5 million or less in qualified rehabilitation expenditures, index the date for the 10 percent credit for non-historic buildings placed in service before 1936, eliminate federal taxation on the proceeds of state HTCs transferred through partnerships and sold as state tax certificates and provide a 2 percent HTC boost for properties that make energy-efficient renovations, among other things.

Tune in to the June 25 Tax Credit Tuesday podcast to learn more.  

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