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Texas Governor Signs Bill Making Certain Nonprofit Transactions Ineligible for State HTC
Texas Gov. Greg Abbott signed legislation that amends the state historic tax credit (HTC) regulations to make expenses for a nonprofit corporation to rehabilitate a historic structure ineligible for the HTC if the structure is leased to a tax-exempt entity in a disqualified lease. H.B. 3777 takes effect Jan. 1, 2022.
The Novogradac Introduction to Historic Tax Credits booklet provides the basics of the HTC incentive, including the interaction of state and federal credits.