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Pennsylvania Bills Would Increase Annual Statewide HTC Cap

Friday, June 28, 2024 - 9:14AM

Two bills introduced in the Pennsylvania Legislature would increase the $5 million annual cap for the state historic tax credit (HTC). S.B. 1259 would increase the cap to $50 million, while H.B. 2358 would increase the cap to $20 million. The Pennsylvania HTC is worth 25% of qualified rehabilitation expenditures with a $500,000-per-development cap.

The Novogradac Historic Rehabilitation Handbook provides a look at the intricacies of the HTC incentive at both the state and federal levels.

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