Maryland Bill Would Extend State HTC, Establish Small Commercial Project Trust Account
A bill prefiled in Maryland for official introduction next week would extend the state historic tax credit (HTC) sunset date to 2031 and establish a small commercial project trust account. H.B. 27 would create a small commercial project trust account with a set-aside of at least $4 million annually. The legislation also requires the governor to set aside $12 million annually in 2023 and 2024, $24 million annually in 2025 and 2026 and $36 million annually for 2027 through 2031 for the HTC reserve fund.
The Novogradac Historic Rehabilitation Handbook provides an overview of the HTC and the intricacies of the incentive.