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Maine Legislation Would Extend Sunset Date of State HTC to 2040

Monday, March 22, 2021 - 1:30PM

A bill introduced in the Maine Legislature would extend the state historic tax credit (HTC) for 15 years. L.D. 240 includes a provision that would change the sunset date for the Maine HTC from Dec. 31, 2025, to Dec. 31, 2040. The Maine HTC is a 25% credit if the property qualifies for the federal 20% credit, with a transaction cap of $5 million per year.

The fifth edition of the Novogradac Introduction to Historic Tax Credits booklet includes a discussion of how the federal and state HTCs interact.

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