Recent News

Tuesday, June 11, 2019

Legislation that would extend and expand the North Carolina historic tax credit (HTC) passed the state House of Representatives and now is in the Senate. H.B. 399 would extend the sunset date from Jan. 1, 2020, to Jan. 1, 2032, although it would apply to expenses incurred after Jan. 1, 2024.

Friday, May 31, 2019

The California state Senate this week unanimously passed legislation to create a state historic tax credit (HTC). S.B. 451 would create a state HTC from 2021 through 2025 worth 20 percent of qualified rehabilitation expenses (QRE), with a 5 percent bonus for properties that meet certain criteria, including low-income housing.

Wednesday, May 22, 2019

The North Carolina Senate this week passed legislation that includes a provision to extend the sunset date for the state historic tax credit (HTC) to 2024. S.B. 622 would extend the sunset date for several provisions, including the state HTC, from Jan. 1, 2020, until Jan. 1, 2024. The Senate’s appropriations bill now must be reconciled with the House’s bill before being sent to Gov. Roy Cooper. Both bills include the HTC sunset extension.

Tuesday, May 21, 2019

Legislation in South Carolina went into effect this week to amend the state historic tax credit definition of rehabilitation expenses for textile mills. S. 440 defines “rehabilitation expenses” to include expenditures that include demolition, environmental remediation and site improvements at textile mill sites, but exclude the cost of acquiring the site or the cost of personal property on the site.

Monday, May 20, 2019

Reps. Earl Blumenauer, D-Ore., Darin LaHood, R-Ill., Terri Sewell, D-Ala., and Mike Kelly, R-Pa., introduced the Historic Tax Credit Growth and Opportunity Act (HTC-GO) Friday to bring more value to historic tax credit (HTC) transactions and to encourage redevelopment of smaller, income-producing properties. H.R.

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