Maryland Expands Types of Property Eligible for State HTC

Monday, June 7, 2021 - 11:15am

Legislation in Maryland takes effect July 1 that will expand the types of property eligible for its state historic revitalization tax credit (HTC). H.B. 539 expands the definitions of “certified historic structures” and “single-family, owner-occupied residences” to include structures located on property owned by the Maryland Department of Natural Resources, is occupied by a person under an agreement with the department that allows the occupant to pay for the structure’s rehabilitation as a condition of occupancy and meets one of the criteria to be designated as a certified historic structure or be eligible to be listed in the National Register of Historic Places as determined by the director of the Maryland Historical Trust. The bill was enacted May 30.

The 2020 Novogradac Historic Rehabilitation Handbook provides an overview of the HTC and the intricacies of the incentive, including the interaction of state and federal credits.