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Pennsylvania Legislation Would Make Mill Buildings, Factories Eligible for HTC

Thursday, February 3, 2022 - 10:30AM

Legislation introduced in the Pennsylvania General Assembly would add factories and mill buildings to the list of properties eligible for the state’s historic tax credit (HTC). H.B. 2280 would expand the state HTC eligibility to include factories or mill complexes that were built before 1960 and have been at least 75% vacant for 24 months when proposed for rehabilitation by a city, borough, incorporated town or township. There would be a $10 million annual statewide cap.

The Novogradac Historic Rehabilitation Handbook provides an overview of the HTC and examines the intricacies of the incentive, including the interaction of the state and federal credit.

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