MASSACHUSETTS HISTORIC REHABILITATION TAX CREDIT EXTENDED UNTIL 2017

Tuesday, July 6, 2010 - 8:00am

On June 30, Massachusetts Gov. Deval Patrick signed the state’s fiscal year (FY) 2011 Budget (H 4800). Among other things, the budget bill extends the Massachusetts Historic Rehabilitation Tax Credit (MHRTC) program until December 31, 2017. The program was set to sunset on December 31, 2011. The FY 2011 budget bill ensures that $50 million in tax credits will be available for historic renovations in Massachusetts. The budget bill also increases the transparency of the state’s tax credit programs by requiring agency heads and tax credit recipients to submit reports on credit use for the previous calendar year.

Tune in to the July 13 Tax Credit Tuesday podcast for more information about the extension of the MHRTC program and the new transparency requirements.