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Rhode Island Legislation Would Remove Sunset Date from State HTC

Tuesday, March 2, 2021 - 12:45PM

A bill in the Rhode Island General Assembly would eliminate the sunset provision for the state historic tax credit (HTC). The credit is currently set to expire when the maximum aggregate credits is exhausted or June 30, 2021, whichever comes first. H.B. 5458 would extend the credit indefinitely.

The Novogradac Introduction to Tax Credits booklet has been updated to include changes for the HTC in 2017 federal tax reform, including the requirement that the credit be taking “ratably” over the five-year period.

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