Minnesota Legislation Would Extend State HTC Expiration Date
Two pieces of legislation in the Minnesota Senate would extend the state’s historic tax credit looming expiration date–one until 2026, the other permanently. S.F. 318 would extend the state HTC until 2026, allowing allocation certificates issued before 2027 to be in effect through 2029. S.F. 685 would repeal the sunset date and make the credit permanent. There are identical versions of both bills in the Minnesota House of Representatives. Minnesota’s state HTC is worth 100% of the federal HTC and has a sunset date of June 30.
The 2020 Novogradac Historic Rehabilitation Handbook provides an overview of the HTC and includes guidance and updates to navigate the incentive.