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Virginia Legislation Would Double Annual Taxpayer Cap for State HTC

Wednesday, January 19, 2022 - 10:00AM

A bill introduced this week in the Virginia House of Representatives would double the state’s annual taxpayer cap on its historic tax credit (HTC) incentive to $10 million. H.B. 1219 would increase the amount from $5 million per taxpayer, a cap that has been in effect since Jan. 1, 2017. Virginia’s HTC is for 25% of qualified rehabilitation expenditures.

The Novogradac Introduction to Historic Tax Credits booklet provides an overview of federal and state HTCs.

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