New York Governor Signs Bill Resurrecting Historic Barn Tax Credit
New York Gov. Kathy Hochul signed legislation to resurrect the state’s Historic Barn Rehabilitation Tax Credit. S. 6042 establishes a credit for 25% of qualified rehabilitation expenditures on historic barns, bringing back an incentive that was abolished due to complications from federal tax reform in 2017. Barns built before 1945 are eligible for the credit and those built after 1945 may qualify if they are listed on the state or National Register of Historic Places. The credit took effect Jan. 1.
Get started on developing using HTCs with the Novogradac Introduction to Historic Tax Credits booklet.