Sign Up For Novogradac Industry Alert Emails

New Guidelines for Alabama HTC Begin March 16

Friday, February 23, 2024 - 10:35AM

New guidelines due to legislation passed last year take effect March 16 for Alabama’s state historic tax credit (HTC). H.B. 253 allows taxpayers to claim the credit either in the year the reservation is allocated to the project or the year the property is placed in service; revises language with respect to what qualifies as qualified rehabilitation expenditures (QREs) to broaden the scope of what qualifies for certified historic residential structures; changes information required on HTC transfer agreements; and makes other updates.

The Novogradac Introduction to Historic Tax Credits booklet provides the basics of the HTC incentive, both at the state and federal level.

Learn more about Novogradac's expertise and many services