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Texas Legislation Duplicating HTC Provisions to Insurance Code Goes to Governor

Tuesday, May 18, 2021 - 11:45AM

A bill to ensure the Texas state historic tax credit (HTC) can be taken against the state insurance premium tax passed both houses of the Legislature and is on the desk of Gov. Greg Abbott. S.B. 813 replicates key provisions from the description in the franchise tax code to the insurance code, ensuring that the HTC will survive if the franchise tax is repealed. The Texas HTC is worth up to 25% of eligible rehabilitation expenditures.

The Novogradac Introduction to Historic Tax Credits booklet provides an overview of the HTC incentive, including how federal and state HTCs interact.

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