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Texas Colleges Now Eligible to Claim State HTC

Monday, June 26, 2017 - 9:45AM

Institutions of higher education became eligible to claim the Texas state historic tax credit (HTC) June 14, due to legislation that passed earlier this year. HB 1003 adds “an institution of higher education or university system as defined by [the Texas education code],” to the list of organizations exempt from the Internal Revenue Code’s (IRC’s) Section 47 deprecation and tax-exempt use provisions for qualified rehabilitation expenses while claiming the state HTC. The legislation applies to eligible costs incurred between June 14, 2017, and Jan. 1, 2022.

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