NEW YORK'S HISTORIC TAX CREDIT EXPANDED

Tuesday, August 31, 2010 - 8:15AM

Gov. David Paterson yesterday signed two companion bills to allow banks and insurance companies to utilize the state’s historic rehabilitation tax credit. Sponsored by Sen. David Valesky and Assemblymember Sam Hoyt, S. 7556 and A. 10839 are expected to widen the pool of investors in the program, which incentivizes commercial and residential reuse of the state’s historic structures.

Read the September issue of the Novogradac Journal of Tax Credits for more news about New York’s historic tax credit program.

 

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