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Kentucky Bill Creates State HTC Set-Aside for Development in Louisville

Tuesday, April 13, 2021 - 12:00PM

Legislation signed to law in Kentucky creates a specific set-aside in the state historic tax credit (HTC) incentive to spur redevelopment in the west end of Louisville. H.B. 321 provides tax incentives for development in the area and creates a set-side before Dec. 31 for a major HTC development that meets certain qualifications–qualifications that specifically apply to the Seelbach Hotel. Refundable, transferrable HTCs can be claimed on the first $30 million of qualified rehabilitation expenditures on the project.

The Novogradac Introduction to Historic Tax Credits provides the basics of the HTC incentive, including how state and federal HTCs interact.

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