Kansas Legislation Would Create Percentage Boost for State HTC in Smaller Towns
A bill introduced in the Kansas Legislature would increase the state historic tax credit (HTC) percentage for developments in small towns and would eliminate the annual statewide cap for HTCs claimed by nonprofits. H.B. 2569 would increase the state HTC percentage of 25% to 30% for historic rehabilitations in cities with population of 9,500 to 50,000 and to 40% for property in cities with population of less than 9,500. The existing annual cap for nonprofit state HTCs of $3.75 million would be removed.
The Novogradac Historic Rehabilitation Handbook provides an overview of the HTC and delves into the intricacies of the incentive.