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New York Bill Would Grant State HTC Worth 150 Percent of Federal HTC to Small Projects

Tuesday, March 3, 2020 - 3:15PM

Legislation in New York would allow small historic rehabilitation projects to receive a state historic tax credit (HTC) worth 150 percent of the federal HTC amount. A.B. 5760 (and S.B. 3645, a companion bill) would grant the bonus state tax credit to properties with qualified rehabilitation expenses of $5 million or less. The change would be effective for taxable years beginning on or after Jan. 1, 2021.

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