Recent News

Thursday, July 30, 2020

The Internal Revenue Service today published Notice 2020-58 to provide additional COVID-19 relief to taxpayers in satisfying the substantial rehabilitation test for the historic tax credit (HTC).

Wednesday, July 15, 2020

Louisiana Gov. John Bel Edwards signed legislation to extend the sunset date of the state historic tax credit (HTC) until the end of 2027 and establish an annual cap. H.B. 4 moves the sunset date for the state 20 percent HTC from the end of 2021 until the end of 2027 and sets the annual statewide cap for HTCs at $125 million.

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.

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