Recent News

Thursday, July 9, 2020

Mississippi Gov. Tate Reeves this week signed into law H.B. 1729, which—among other things—extends the state historic tax credit (HTC) sunset date from 2020 to 2030. H.B. 1729 authorizes the state HTC at an aggregate $180 million and allows a taxpayer to elect to receive a rebate of 75 percent of the credit in lieu of a 10-year-carryforward (previous law allowed a 75 percent credit on the amount beyond $250,000 in that circumstance).

Monday, July 6, 2020

The Delaware state historic tax credit will be funded an additional year–through 2026–after state budget legislation was signed into law last week. S.B. 242 funds the state HTC at $8 million annually from 2021-2026. The HTC was previously funded at that amount for 2020-2025.

Wednesday, July 1, 2020

The House of Representatives today approved a sweeping infrastructure bill, voting to send the $1.5 trillion legislation to the Senate. The Moving Forward Act (H.R.

Monday, June 29, 2020

The Rhode Island budget bill signed last week by Gov. Gina Raimondo includes a provision to fund the state historic tax credit (HTC), thereby extending the HTC sunset date until June 30, 2021. H. 7170 calls for a transfer of $5 million in appropriations for the Rebuild Rhode Island Tax Credit program.

Monday, June 22, 2020

Sweeping infrastructure legislation released today in the House of Representatives includes provisions to establish a permanent minimum 4 percent rate for the low-income housing tax credit (LIHTC), increase the annual LIHTC allocation amount, temporarily reduce the 50 percent test for bond-financed housing to 25 percent and permanently extend the new markets tax credit (NMTC) at $5 billion (with additional allocation in 2020 and 2021).

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