New York Bill Would Extend HTC Sunset Date, Require Annual Statewide Report
A bill introduced this week in the New York Assembly would extend the sunset date of the state historic tax credit (HTC) to 2032 and add a requirement for an annual report by the commissioner of state historic preservation office on the number and value of tax credit projects applied for and certified during the previous fiscal year. A.B. 9043 would extend the sunset date from the current date of Jan. 1, 2025.
The Novogradac Introduction to Historic Tax Credits booklet provides an introduction to the basics of the HTC incentive, including how state and federal credits interact.