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Maine Bill Would Double Transaction Cap, Reduce Claiming Period for State HTC

Wednesday, March 13, 2024 - 1:08PM

A bill introduced in the Maine Legislature would double the transaction cap for the state historic tax credit (HTC) and reduce the state HTC claiming period by one year. LD 2016 would increase the transaction cap from $5 million to $10 million and reduce the claiming period from four to three years. Maine’s HTC is for 25% of qualified rehabilitation expenditures (QREs). The changes would be effective for tax years beginning on or after Jan. 1, 2024.

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

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