Rhode Island Budget Bill Extends State Historic Tax Credit through June 30, 2021

Monday, June 29, 2020 - 9:30am

The Rhode Island budget bill signed last week by Gov. Gina Raimondo includes a provision to fund the state historic tax credit (HTC), thereby extending the HTC sunset date until June 30, 2021. H. 7170 calls for a transfer of $5 million in appropriations for the Rebuild Rhode Island Tax Credit program. The Rhode Island HTC is 20 percent for commercial property owners, condominiums and nonprofits and 25 percent if a minimum percentage of the total rental space or the entire first floor or a rehabilitated building is used for a trade or business.