Indiana Governor Signs Bill Instituting State HTC

Wednesday, May 17, 2023 - 12:30PM

Indiana Gov. Eric Holcomb signed budget legislation that institutes a state historic tax credit (HTC) worth 25% of a development’s qualified rehabilitation expenses (QREs), with a 5% addition for certain properties. H.B. 1454 includes a provision to create the state HTC with an annual statewide cap of $10 million. The 5% bonus is for nonprofit buildings or those that are not income producing. The credit can be taken during fiscal years beginning after June 30, 2023, and expires June 30, 2030.

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

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