Mississippi Governor Signs Law Expanding Period for Claiming 75% Rebate on State HTC
Mississippi Gov. Tate Reeves this week signed into law a bill that extends the period of time in which a taxpayer can claim a 75% rebate on the amount of the state historic tax credit (HTC). H.B. 390 extends the period to any time after the certification of the rebate, a change from the previous regulation that required an election be made in the year in which the rebate is certified. The change is immediately effective.
The Novogradac Introduction to Historic Tax Credits booklet provides the basic of the federal and state HTC.