Sign Up For Novogradac Industry Alert Emails

Updated Alabama Regulations: Once Transferred, State HTC is Nonrefundable, Nontransferable

Friday, January 22, 2021 - 10:30AM

The Alabama Department of Revenue amended regulations concerning the state historic tax credit (HTC). Under the new regulations, the state HTC can only be transferred once. In addition, once a state HTC is transferred, it is nonrefundable. The changes were effective Jan. 14. The Alabama HTC is for 25% of qualified rehabilitation expenditures for private homeowners or owners of commercial properties who substantially rehabilitate historic properties. There is a $20 million annual cap.

Learn more about Novogradac's expertise and many services