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Legislation Would Extend Sunset Date for Rhode Island State HTC

Wednesday, March 13, 2024 - 1:12PM

A bill introduced in the Rhode Island House of Representatives would extend the state historic tax credit (HTC) sunset date to 2029. The state credit, which is for 20% of qualified rehabilitation expenditures (QREs) with a 5% bonus if at least 25% of the total rentable space or the entire first floor is used as a trade or business, has a June 30, 2024, sunset date. H.B. 7920 would extend that until June 30, 2029, or until exhaustion of the maximum aggregate credits, whichever comes first.

The Novogradac Introduction to Historic Tax Credits booklet provides a look at the basics of the HTC incentive.

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