Kentucky Legislation Would Increase, Expand State HTC

Monday, January 27, 2020 - 3:15pm

A bill introduced in the Kentucky House of Representatives would increase the annual overall and transaction-level state historic tax credit (HTC) ceiling and make properties in rural counties eligible for the maximum percentage. H.B. 325 would increase the annual statewide cap from $5 million to $30 million starting April 30, 2020. It would also make properties in counties with population of less than 50,000 eligible for the 30 percent HTC, along with owner-occupied residential property, while all other property would still be eligible for a 20 percent HTC. Owner-occupied residential property would retain a $60,000 per-transaction cap, while the transaction cap for other property would increase from $400,000 to $5 million starting April 30. Forty percent of the annual cap would be reserved for rural counties.