State HTC Program Descriptions

Legend

  Historic Tax Credit Program Enacted
  Historic Tax Credit Program Proposed
  No Current Historic Tax Credit Program

The links in the map above take users to the program descriptions below, which is maintained by Novogradac & Company. We will update this list as new information becomes available. If you would like to correct or update the information listed above please email cpas@novoco.com.

 

Alabama

Program Alabama Historic Rehabilitation Tax Credit
Administering Agency Alabama Historical Commission
Enacting Legislation H.B. 345
Amending Legislation  
Related Statutes 810-3-137-.02
Application Part A: Evaluation of Program Eligibility; Part B: Description of Rehabilitation; Part C: Request for Certification of Completed Work. Applications can be submitted beginning Nov. 1, 2017.
Application Process Complete Parts A and B and submit to the Alabama Historical Commission.
Annual State Cap $20 million per year, plus any amount of previous reservations of tax credits that were rescinded. No more than $100 million in total credits before Dec. 31, 2022.
Transaction Cap

$50,000 for certified historic residential structures and $5 million for all other allowable property types.

Credit Description

25 percent of qualified rehabilitation expenditures for buildings that are at least 60 years or are historic building in national monument or national park.

40% of credits reserved for counties with 175,000 or fewer people. 

How to Claim the Credit File tax credit certificate with Alabama state tax return.
Bifurcated from Federal HTC? Yes
Credit Period (Compliance) Same as federal credit.
Recapture Same as federal credit.
Related Documents

 Alabama Historical Commission Administrative CodeRule 810-3-137-.01; Rule 810-3-137-.03

    Other Information 

    Entire tax credit must be claimed in the taxable year in which the certified rehabilitation is placed in service. Each year, 40 percent of credits reserved for taxpayers with projects in counties in which the population doesn’t exceed 175,000 according to the 2010 census. If those credits are not allocated by the close of the second quarter of the year, they may revert to other projects. Credits are transferrable, but must be at value of at least 85 percent of the present value and can only be transferred once.

    Historic Tax Credit Evaluating Committee shall review qualifying projects, approve them and rank projects in order, meeting at least quarterly unless no credits remain to be allocated.

    Program Sunset Date Dec. 31, 2022
    Novogradac Contact Brad Elphick

    State Contact

     

    Taylor Stewart
    Alabama Historical Commission
    334-230-2643
    taylor.stewart@ahc.alabama.gov

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    Arkansas

    Program Arkansas Historic Rehabilitation Income Tax Credit
    Administering Agency Arkansas Historic Preservation Program
    Enacting Legislation H.B. 1953
    Amending Legislation S. 570, S.B. 253
    Related Statutes Arkansas Code Section 26-51-2201, Arkansas Code Section 26-51-2204
    Application Property owners should contact the Arkansas Historic Preservation Program for application materials before beginning a historic rehabilitation project.
    Application Process The state tax credit application and certification process is a three-part process. Part 1, certification that a property is a certified historic property. Part 2, photo documentation and proposed plans for the project. Part 3, the documented results of the completed project.
    Annual State Cap $4 million
    Transaction Cap

    Income-producing properties that start before July 1, 2017, can claim a 25 percent credit on up to $500,000 in qualified rehabilitation expenses.

    Income-producing properties that start July 1, 2017 or later can claim a 25 percent credit on up to $1.6 million in qualified rehabilitation expenses.

    Non-income producing properties can claim a 25 percent credit on up to $100,000 in tax credits.

    Credit only allowed one time for each eligible property in a 24-month period.

    Credit Description 25 percent of certified rehabilitation expenditures, or “the total of appropriate and approved rehabilitation work on an eligible property that results in a substantial rehabilitation of an eligible property.”
    How to Claim the Credit Attach a copy of the Certificate of Tax credit issued by Department of Arkansas Heritage to your tax return. Can be carried forward five years.
    Bifurcated from Federal HTC? Yes
    Credit Period (Compliance) Five years
    Recapture Same as federal
    Related Documents

    Arkansas State Rehabilitation Tax Credit FAQArkansas Historic Rehabilitation Tax Credit BrochureArkansas State Tax Credit Program Rules Draft with 2015 legislative changes 

      Other Information 

      Applications are prioritized by the following selection criteria:

      1. Result in the creation of a new business;
      2. Result in the expansion of an existing business;
      3. Establish or contribute to the establishment of a tourism attraction as defined by the Department of Parks and Tourism;
      4. Contribute to the revitalization of a specific business district
      5. Be a key property in the revitalization of a specific neighborhood.
      Program Sunset Date Dec. 31, 2027
      Novogradac Contact Brad Elphick

      State Contact

       

      Arkansas Historic Preservation Program
      info@arkansaspreservation.org
      (501) 324-9880

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      Colorado

      Program Colorado Job Creation Main Street Revitalization Act
      Administering Agency History Colorado 
      Enacting Legislation H.B. 14-1311
      Amending Legislation H.B. 08-1033H.B. 15-1307; HB-1190
      Related Statutes N/A
      Application

      In connection with the reservation of tax credits for qualified commercial structures, changes the existing requirements under which the Colorado office of economic opportunity (office) uses a lottery process to determine the order in which it will review applications and plans received on the same day to a process under which the office must date and timestamp each application and review a plan and application on the basis of the order in which such documents were submitted.

      Application Process If both the federal credit and the state credit are applied for, only a federal application needs to be filled out.
      Annual State Cap $10 million
      Transaction Cap

      $1 million

      Credit Description

      25% credit against individual and corporate taxes for owners and long-term qualified lessees for first $2 million in Qualified Rehabilitation Expenses (QREs) and 20% on the remaining QREs for commercial properties.  

      Credit goes to 30% in a designated disaster area and starting in 2020 goes to 35% for projects in defined “rural” communities under 50,000 in population.

      50% of credits to be awarded to projects with QREs less than $2 million; 50% of credits to go to projects with QREs of $2 million and above.

      How to Claim the Credit Certified Local Governments or History Colorado will send you a verification certificate. Attach this to your Colorado state income tax return.
      Bifurcated from Federal HTC? Yes
      Credit Period (Compliance) The credit can be carried forward 10 years. (Five years)
      Recapture Same as federal
      Related Documents  
      Other Information

      20 percent credit for qualifying residential properties and 30% starting in 2020 for communities under 50,000 in population. No aggregate statewide dollar cap, but per project cap of $50,000 per year.

      Program Sunset Date Dec. 31, 2029
      Novogradac Contact Mike Morrison
      State Contact

      Office of Archaeology and Historic Preservation
      (303) 866-3392
      oahp@state.co.us

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      Connecticut

      Program Connecticut State Historic Rehabilitation Tax Credit
      Administering Agency Connecticut Department of Economic and Community Development Offices of Culture and Tourism
      Enacting Legislation Public Act No. 07-250
      Amending Legislation Public Act No. 11-48;  Public Act No. 14-217; Public Act No. 06-159; Public Act No. 99-173
      Related Statutes Connecticut General Statutes Section 10-41b
      Application Part 1, Part 2, Part 2 Amendment, Part 3, Part 4, Part 5, Program Guidelines and Application Instructions, Fee Payment Form
      Application Process There is a five-step application process administered by the Connecticut State Historic Preservation Office.
      Annual State Cap $31.7 million in tax credit reservations are available each year.
      Transaction Cap

      $4 million

      Credit Description

      The credit is equal to 25 percent of total qualified rehabilitation expenditures, which include residential use of five units or more, mixed residential and nonresidential use or nonresidential use consistent with the historic character of such property or the district in which such property is located. The credit goes up to 30 percent if the project includes an affordable housing component provided at least 20 percent of the rental units or 10 percent of for sale units qualify under CGS Section 839a.

      How to Claim the Credit

      Use Form CT1120-HP

      Bifurcated from Federal HTC? Yes
      Credit Period (Compliance) The credit can be carried forward five years. (Not applicable.)
      Recapture If the residential portion of a mixed residential and nonresidential rehabilitation is not completed within the scheduled time frame 100 percent of the tax credit is recaptured.
      Related Documents Not Applicable
      Other Information 

      Tax credits can be assigned, transferred or conveyed in whole or in part by the owner to others up to three times.

      Program Sunset Date Not Applicable
      Novogradac Contact Charlie Rhuda
      State Contact

      Julie Carmelich
      (860)-256-2762
      julie.carmelich@ct.gov

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      Connecticut

      Program Connecticut Historic Structures Rehabilitation Tax Credit
      Administering Agency Connecticut Department of Economic and Community Development Offices of Culture and Tourism
      Enacting Legislation Public Act No. 99-173
      Amending Legislation Public Act No. 06-159
      Related Statutes Connecticut General Statutes Section 10-41a
      Application Part 1, Part 2, Part 2 Amendment, Part 3, Part 4, Part 5, Application Instructions
      Application Process There is a five step application process administered by the Connecticut State Historic Preservation Office.
      Annual State Cap $15 million in tax credit reservations are available in three year cycles
      Transaction Cap $2.7 million in tax credits.

       

      Credit Description

      The state will allocate a 25 percent tax credit for total qualified expenditures for conversion of historic commercial, industrial, institutional, former government buildings, cultural building, or residential property of more than four units to residential use, including rental or condominium units.

      How to Claim the Credit Use Form CT-1120HS
      Bifurcated from Federal HTC? Yes
      Credit Period (Compliance) The credit can be carried forward five years. (Not applicable.)
      Recapture Not applicable.
      Related Documents Special Instructions for Phased Projects, Adopted Regulations 
      Other Information

      Tax credits can only be used by C corporations with tax liability under Chapters 207 through 212 of the Connecticut General Statutes.

      Program Sunset Date Not applicable
      Novogradac Contact Charlie Rhuda
      State Contact

      Julie Carmelich
      (860)-256-2762

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      Delaware

      Program Delaware Historic Preservation Tax Credit Program
      Administering Agency Delaware Division of Historical and Cultural Affairs
      Enacting Legislation H.B. 1
      Amending Legislation S.B. 209; S.B. 191; HB 475
      Related Statutes Chapter 18, Title 30 of the Delaware Code
      Application Part 1, Part 2, Part 3, Application Instructions, Application Continuation Amendment Sheet
      Application Process Apply for the state credit and federal credit separately.
      Annual State Cap $5 million
      Transaction Cap

      20 percent of qualified expenditures for income producing buildings, residential buildings and an additional 10 percent for low-income housing developments.

      30 percent for all other historic buildings

      Credit Description

      20 percent credit for properties eligible for federal HTC; a 30 percent credit for homeowners and nonprofits; 100 percent credit for resident curatorship properties.

      How to Claim the Credit

       

      Form 700 Delaware Income Tax Credit ScheduleForm 1811AC 0905 Computation Schedule for Claiming Delaware Historic Preservation Tax Credits

      Bifurcated from Federal HTC? Yes
      Credit Period (Compliance) The credit may be carried forward 10 years. (Not available.)
      Recapture Same as federal
      Related Documents

      Historic Preservation Tax Credit Program Guidance; Request for AwardHistoric Preservation Tax Credit Program Statistics

      Other Information

      The structure must be substantially rehabilitated, meaning that the qualified expenditures must exceed the greater of $5,000 or the adjusted basis of the building (adjusted basis: cost of the property minus cost of the land, plus any capital improvements already made, minus any depreciation already taken). Generally, this expenditure test must be met within a 24-month period. An applicant can only claim the amount of tax credits that is supported based on actually incurred rehabilitation costs, even if assigned a higher credit award initially.

       The credit may be transferred in whole or in part at any time during the 10-year period. Property owners without tax liability, such as nonprofits or local governments, can take part in the program.

      Program Sunset Date 2020
      Novogradac Contact Charlie Rhuda
      State Contact

      Joan Larrivee
      Historic Tax Credit Program Coordinator
      Division of Historical and Cultural Affairs
      Phone: (302)736-7406

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      Georgia

      Program Georgia Income Tax Credit Program for Rehabilitated Historic Property Program
      Administering Agency Georgia Department of Natural Resources Historic Preservation Division
      Enacting Legislation

      H.B. 1441

      Amending Legislation H.B. 308FAQs Regarding H.B. 308 Changes
      Related Statutes Georgia Statutes and Codes Section 48-7-29.8; Georgia Dept. of Revenue Income Tax Division Chapter 560-7-8-.56
      Application Part A, Part B, Application Instructions, State Amendment Application Form
      Application Process Apply for the state credit and federal credit separately. Before claiming credits, taxpayer must submit an application to the Georgia Department of Revenue for preapproval of credits. This application must include precertification from the Georgia Department of Natural Resources certifying that improvements to the certified structure are consistent with the department’s standards of rehabilitation. Qualified rehabilitation expenditures may only be counted once in determining the amount of tax credits, and only one entity may claim credits for qualified rehabilitation expenditures associated with an individual project.
      Annual State Cap

      Homeowner projects and commercial projects under $300,000 in credits are exempt from annual aggregate cap of $25 million.

      Additional 5 percent credit for residence located in a HUD target area.

      Transaction Cap $5 million; $10 million in cases where a project creates 200 or more full-time, permanent jobs or $5 million in annual payroll within two years of the placed in service date. $100,000 cap on credits received for rehabilitation of historic homes.
      Credit Description 25 percent of qualified expenditures
      How to Claim the Credit Use Form IT-RHC
      Bifurcated from Federal HTC? No
      Credit Period (Compliance) The credit may be carried forward 10 years. (5 years.)
      Recapture Not applicable
      Related Documents

      Photo-Documentation for Rehabilitation of Historic Properties, DNR Standards for Rehabilitation, Georgia Register of Historic Places, State Preferential Property Tax Assessment Program for Rehabilitated Historic Property, Substantial Rehabilitation Worksheet; Proposed Rule 560-7-8-.56 Historic Rehabilitation Tax Credit

      Other Information

      Credits earned by a taxpayer but not used by taxpayer against its income tax may be transferred or sold to another Georgia taxpayer. Credits cannot have been previously sold or purchased. Seller and buyer of credits must jointly submit written notice of sale to the Georgia Department of Natural Resources no later than 30 days after the date of sale.

      Taxpayers claiming credits must report the average full-time employees employed by the certified structure to the Georgia Department of Natural Resources. These reports must be submitted annually for five years following the year the credits are claimed.

      Program Sunset Date Dec. 31, 2021
      Novogradac Contact Brad Elphick
      State Contact


      Rachel Rice, Tax Incentives Program Manager
      rachel.rice@dnr.ga.gov

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      Indiana

      Program Residential Historic Rehabilitation Credit
      Administering Agency  
      Enacting Legislation

      H 1578

      Amending Legislation  
      Related Statutes  
      Application  
      Application Process  
      Annual State Cap

       

      The amount of tax credits allowed under this chapter may not exceed $250,000 in a state fiscal year beginning July 1, 2001, or thereafter.

      Transaction Cap  
      Credit Description

      The tax credit is equal to 20 percent of the qualified expenditures that the taxpayer makes for the preservation or rehabilitation of the historic property.

      The qualified expenditures for preservation or rehabilitation of the historic property must exceed $10,000.

      How to Claim the Credit  
      Bifurcated from Federal HTC?  
      Credit Period (Compliance) 5 years
      Recapture  
      Related Documents

       

      Other Information

       

      Program Sunset Date  
      Novogradac Contact  
      State Contact

      Indiana Department of Natural Resources
      317.234.7034

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      Illinois

      Program Illinois Historic Preservation Tax Credit Program
      Administering Agency Department of Natural Resources (per H 5686)
      Enacting Legislation Public Act 097-0203
      Amending Legislation S.B. 1488; S.B. 1783
      Related Statutes Not Applicable
      Application Part A, Part B, Part C
      Application Process

      To obtain the credit, an application must be made to the Department of Commerce and Economic Opportunity.

       Applicants must submit one completed ITR-1 Form to the Illinois Department of Revenue

      Annual State Cap Not Applicable
      Transaction Cap Not Applicable
      Credit Description

      25 percent of qualified expenditures 

      How to Claim the Credit Use Schedule 1299-D
      Bifurcated from Federal HTC? Yes
      Credit Period (Compliance) The credit may be carried forward for up to 10 years.
      Recapture Not Applicable
      Related Documents ITR-1 Request for Tax Clearance; Report: Economic Development Opportunities from an Illinois Historic Tax Credit (2014) 
      Other Information

      In order to qualify for the program, the following five qualifications must be met:

      • The structure must be located within the River Edge Redevelopment Zone
      • The structure must be certified as historic by meeting one of the following three criteria:
      1. Listed individually on the National Register of Historic Places
      2. Be a contributing building within a National Register historic district
      3. Be a contributing building within a local historic district that has been certified by the National Park Services for purpose of taking federal tax credits
      • Qualified rehabilitation expenditures must exceed $5,000 or more and 50 percent of the purchase price of the property.
      • The structure must be income producing.
      • The qualified taxpayer/historic structure owner must be in good standing with the Illinois Department of Revenue.

      The tax credit cannot be sold or transferred.

      Program Sunset Date Dec. 31, 2021
      Novogradac Contact Thomas Boccia
      State Contact

      Department of Commerce and Economic Opportunity
      (217) 557-0513
      CEO.HistoricCredit@illinois.gov  

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      Illinois

      Program Bicentennial Mississippi River Region Redevelopment Historic Tax Credit Act
      Administering Agency Illinois Historic Preservation Agency
      Proposed Legislation HB 5730
      Amending Legislation Not Applicable
      Related Statutes  
      Application To obtain a tax credit pursuant to this Act, an application must be made to the Department no later than 6 months after the effective date of this Act
      Application Process

      Not Available

      Annual State Cap $15 million
      Transaction Cap $3 million
      Credit Description

       For tax years beginning on or after January 1, 2019 and ending on or before December 31, 2029, a taxpayer who qualifies for a credit under the Bicentennial Mississippi River Region Redevelopment Historic Tax Credit Act is entitled to a credit against the taxes imposed under subsections (a) and (b) of Section 201 of this Act as provided in that Act.

      To the extent authorized by this Act, for taxable years beginning on or after January 1, 2019 and ending on or before December 31, 2029, there shall be allowed a tax credit against the tax imposed by subsections (a) and (b) of Section 201 of the Illinois Income Tax Act in an 8 amount equal to 25 percent of qualified expenditures incurred by a qualified taxpayer during the taxable year in the restoration and preservation of a qualified historic structure pursuant to a qualified rehabilitation plan, provided that the total amount of such expenditures (i) must equal $5,000 or more, and (ii) must exceed 50 percent of the purchase price of the property. 

      How to Claim the Credit Upon completion and review of the project, the Department shall issue a certificate in the amount of the eligible credits. At the time the certificate is issued, an issuance fee up to the maximum amount of 2 percent of the amount of the credits issued by the certificate may be collected from the applicant to administer the Act. If collected, this issuance fee shall be evenly divided between the Department and the Division. The taxpayer must attach the certificate to the tax return on which the credits are to be claimed. 
      Bifurcated from Federal HTC? Not Available
      Credit Period (Compliance) Unused credit amounts claimed by the assignee may be carried forward for up to 10 years or carried back for up to 3 years, except that all credits must be claimed within 10 years after the tax year in which the qualified rehabilitation plan was first placed into service and may not be carried back to a tax year prior to the tax year in which the credit was issued. 
      Recapture If credits that have been transferred are subsequently reduced, adjusted, or recaptured, in whole or in part, by the Department, the Department of Revenue, or any other applicable government agency, only the original qualified taxpayer that was awarded the credits, and not any subsequent assignee of the credits, shall be held liable to repay any amount of such reduction, adjustment, or recapture of the credits.
      Related Documents Not Available
      Other Information

       

      Credits may be allocated among partners of a syndication partnership.

      Program Sunset Date Dec. 31, 2023
      Novogradac Contact Thomas Boccia
      State Contact

      Department of Commerce and Economic Opportunity
      (217) 557-0513
      CEO.HistoricCredit@illinois.gov  

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      Iowa

      Program Iowa Historic Preservation and Cultural & Entertainment District Tax Credit Program
      Administering Agency Iowa Department of Cultural Affairs
      Enacting Legislation H.F. 2650
      Amending Legislation S.F. 436; H.F. 2453; H.F. 2465;  S.F. 521; H.F. 2453
      Related Statutes Iowa Code Section 404A, Iowa Code Section 223-48, Iowa Code Section 701-52.18, Iowa Code Section 701-52.47
      Application

      Part 1, Part 1.5 Pre-application Meeting, Part 2, Part 2B Registration, Agreement, Part 3Continuation Amendment Sheet

      Apply through the Iowa Tax Credit Award, Claim and Transfer Administration System

      Application Process

      Apply for the state and federal credit separately. Applications for projects with QREs of more than $750,000 are only accepted during the registration period. Applications for projects with QREs of less than $750,000 are accepted year round.

      State HTC instructions

      Annual State Cap $45 million. Allocation of credits: 5 percent of credits for projects with less than $750,000 in QREs.
      Transaction Cap Not Applicable
      Credit Description 25 percent refundable credit for qualified expenditures. Qualified rehabilitation expenditures do not include expenditures financed by federal, state, or local government loans unless otherwise allowed under Section 47 of the Internal Revenue Code.
      How to Claim the Credit Use IA-148 Tax Credits Schedule
      Bifurcated from Federal HTC? Yes
      Credit Period (Compliance)

      At the election of the taxpayer, the credit may be claimed as a nonrefundable tax credit and carried forward up to five years, or until depleted or, in the case of a refundable credit, carried forward as an overpayment. (Not applicable.)

      Recapture Tax credits are recaptured if part three of the application is not approved because the rehabilitation work is found to be inconsistent with the historic character of the property or the district in which it is located and the applicant is unwilling or unable to correct the work accordingly.
      Related Documents Disaster Certification Form, Instructions for Survey Form,  Survey FormPhoto Key Example, Administrative Rules 2015, 2013 QRC Schedule2013 Guidance Memorandum for QRC Schedule
      Other Information The application process allocates tax credits to projects that are shovel-ready and have their financing stack in order.
      Program Sunset Date Not Applicable
      Novogradac Contact Michael Kressig
      State Contact

      State Historic Preservation Office of Iowa (SHPO)

      Kristen Vander Molen, Grants Manager
      kristen.vandermolen@iowa.gov

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      Kansas

      Program Kansas Historic Rehabilitation Tax Credit Program
      Administering Agency Kansas Historical Society
      Enacting Legislation H.B. 2560
      Amending Legislation S.B. 430
      Related Statutes Kansas Statutes Section 79-32,211
      Application Part 1, Part 2, Part 3, Amendment Form, Application Processing Fee, Application Instructions
      Application Process Apply for state credits and federal credits separately.
      Annual State Cap Not Applicable
      Transaction Cap Not Applicable
      Credit Description 25 percent of qualifying expenditures incurred during a qualified project on a qualified building. Credit is 30 percent for nonprofits.
      How to Claim the Credit Use Form K-35
      Bifurcated from Federal HTC? Yes
      Credit Period (Compliance) The credit may be carried forward 10 years. (Not available.)
      Recapture Not available
      Related Documents Instructions on Completing Kansas Department of Revenue Schedules I and II, Kansas Department of Revenue Schedules I and II Checklist, Kansas Department of Revenue Schedules I and II 
      Other Information Project expenses must exceed $5,000. Smaller projects may be combined in order to exceed the minimum requirement.
      Program Sunset Date Not Applicable
      Novogradac Contact Michael Kressig
      State Contact

      Kansas State Historic Preservation  Office
      (785) 272-8681, ext. 240

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      Kentucky

      Program Kentucky Historic Preservation Tax Credit Program
      Administering Agency Kentucky Heritage Council State Historic Preservation Office
      Enacting Legislation H.B. 272
      Amending Legislation Not Applicable
      Related Statutes Kentucky Revised Statutes Section 141.382, Administrative Regulations 300 KAR 6:010
      Application Part 0Part 1, Part 2, Part 3, Part 4Continuation Amendment Form
      Application Process Apply for state credits and federal credits separately. Applications are accepted year-round. Credits are allocated to approved Part 2 projects received by April 29 of each year.
      Annual State Cap $5 Million
      Transaction Cap $400,000
      Credit Description

      30 percent of qualified rehabilitation expenses is offered as a state tax credit for owner-occupied residential properties. A minimum investment of $20,000 is required, with the total credit not to exceed $60,000

      20 percent of qualified rehabilitation expenses is available for all other properties, requiring a minimum investment of $20,000 or the adjusted basis, whichever is greater. The total credit for a project must not exceed $400,000

      How to Claim the Credit Attach the election of credit form to your Kentucky tax returns.
      Bifurcated from Federal HTC? Yes
      Credit Period (Compliance) The credit is refundable. (Not applicable.)
      Recapture Not Applicable
      Related Documents Kentucky Historic Preservation Tax Credit Instructions and Guidelines, Election of Credit Form, Summary of Investment Form 
      Other Information

      Requires a minimum investment of $20,000 or the adjusted basis, whichever is greater. 

      All credits are subject to proportional reduction if the value of credits claimed exceeds the annual aggregate cap.

      Program Sunset Date Not Applicable
      Novogradac Contact Brad Elphick
      State Contact

      Mike Radeke
      Restoration Project Manager
      (502) 564-7005, Ext. 141

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      Louisiana

      Program Louisiana Commercial Tax Credit Program
      Administering Agency

      Louisiana Office of Lieutenant Governor Department of Culture, Recreation and Tourism, Division of Historic Preservation

      Enacting Legislation H.B. 359
      Amending Legislation H.B. 630; H.B. 824; H.B. 387
      Related Statutes LAC: 61:I.1917; Revised Statutes of Louisiana 47-6019
      Application Part 1 - Certification of Contributing StatusPart 2 - Proposed Work Description; Part 3 - Request for Project CertificationFee Payment InformationContinuation SheetAmendment Sheet
      Application Process Application Procedure. 1. Initial Determination of Eligibility by the SHPO a. The SHPO determines whether the structure, before and after the work is performed, qualifies as contributing to the historical significance of the district. Specifically, the SHPO determines whether work was performed on an eligible structure and whether such work performed was SOI-compliant. A project is determined to be a certified rehabilitation if the building itself meets eligibility requirements and the work is SOI-compliant. b. The SHPO makes a determination as to whether a project is determined to be a certified rehabilitation through a three-part application process administered by an architectural historian. i. In Part 1, the SHPO certifies whether the structure is eligible for the Program. ii. In Part 2, the SHPO certifies whether the work, as proposed by the applicant, is SOI-compliant. iii. In Part 3, the SHPO confirms that the actual work performed by the applicant was indeed SOI-compliant. c. If the project is determined by SHPO to be a certified rehabilitation, the SHPO shall provide to the applicant, with copies to the Department, an approved “Part 3-Request for Certification of Completed Work”, and an executed Section 1 of Form R-6121B.
      Annual State Cap $5 million
      Transaction Cap No taxpayer, or any entity affiliated with such taxpayer, shall claim more than $5 million of credit annually for any number of structures rehabilitated with a particular downtown development or cultural district
      Credit Description 25 percent of the eligible costs and expenses of the rehabilitation incurred prior to Jan. 1, 2018, and 20 percent of the eligible costs and expenses of the rehabilitation incurred on or after Jan. 1, 2018.
      How to Claim the Credit Attach a copy the approved Part 3 application, signed and dated by the Division of Historic Preservation, a copy of the transfer documents, if applicable, and a schedule showing the remaining tax credit balance of the owner/transferee and the amount to be applied against the owner/transferee’s tax liability for the current year to your state income tax returns.
      Bifurcated from Federal HTC? Yes
      Credit Period (Compliance) The credit can be carried forward five years. (Five years.)
      Recapture Not Available
      Related Documents An Illustrated Guide to Completing the State Commercial Tax Credit, Claim and Transfer of Credit, Commercial Tax Credit Regulations 
      Other Information Persons who are awarded tax credits may elect to sell their unused tax credits to one or more individuals or entities. The tax credits may be transferred or sold by a taxpayer or any subsequent transferee an unlimited number of times.
      Program Sunset Date Dec. 31, 2021
      Novogradac Contact Michael Kressig
      State Contact

      Nicole Hobson-Morris
      (225) 342-8172

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      Maine

      Program  
      Administering Agency  
      Enacting Legislation

       

      Amending Legislation  
      Related Statutes  
      Application  
      Application Process  
      Annual State Cap

       

      Not Applicable

      Transaction Cap $5 million for each building that is a certified historic structure and placed in service per year
      Credit Description

      25 percent credit if the property qualifies for the 20 percent federal credit and 25 percent if taxpayer does not claim the federal credit and incurs between $50,000 and $250,000 in qualified expenses.

      Credit must be taken in 4 equal installments with first year being year property is placed into service.

      How to Claim the Credit  
      Bifurcated from Federal HTC?  
      Credit Period (Compliance) 3 years
      Recapture  
      Related Documents

       

      Other Information

       

      Program Sunset Date Dec. 31, 2023
      Novogradac Contact  
      State Contact

      Maine Historic Preservation Commission
      207.287.2132

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      Maryland

      Program Maryland Heritage Structure Rehabilitation Tax Credit Program
      Administering Agency Department of Planning, Maryland Historical Trust
      Enacting Legislation H.B. 1196
      Amending Legislation

       2018 Proposed Changes (Effective Feb. 12, 2018)

      Related Statutes Maryland State Finance And Procurement Code Section 5A-303
      Application Application InstructionsPart 1Part 2Part 3, Amendment Form
      Application Process Apply to the federal and state credits separately.
      Annual State Cap Not Applicable
      Transaction Cap

      Commercial - $3 million

      Small commercial and owner-occupied - $50,000

      Credit Description

      Additional 5 percent credit for that have received an allocated Low Income Housing Tax Credit

      Set aside of $4 million for small commercial projects with $500,000 or less in QREs and more than 75% residential rental.

      No more than 60 percent of funds available for commercial projects in any year may go to any single jurisdiction.

      How to Claim the Credit Use Form 502CR
      Bifurcated from Federal HTC? Yes
      Credit Period (Compliance) Not Applicable
      Recapture Not Applicable
      Other Information Not Applicable
      Related Documents Affordable and Workforce Housing Worksheet, Commercial Tax Credit Eligibility Flowchart, Commercial Tax Credit FAQ, Commercial Tax Credit Instructions, Commercial Tax Credit Summary Sheet, Commercial Tax Credit Worksheet
      Program Sunset Date 2022
      Novogradac Contact Thomas Boccia
      State Contact

      Collin Ingraham
      Administrator of the Tax Credit Program
      (410) 514-7671

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      Massachusetts

      Program Massachusetts Historic Rehabilitation Tax Credit Program
      Administering Agency Massachusetts Offices of the Secretary of the Commonwealth
      Enacting Legislation H.B. 2987
      Amending Legislation Not applicable
      Related Statutes Massachusetts General Laws Part I, Title IX, Chapter 63, Section 38R
      Application Application InstructionsPart 1, Part 2, Part 3
      Application Process Apply for the federal and state credits separately.
      Annual State Cap $55 million
      Transaction Cap Not Available
      Credit Description 25 percent of credits set aside for projects with affordable housing.
      How to Claim the Credit Not Available
      Bifurcated from Federal HTC? Yes
      Credit Period (Compliance)

      Same as federal

      Taxpayers may carry over credits for any of the succeeding five taxable years.

      Recapture Recapture is required if the taxpayer disposes of its interest in the structure before the end of the five year period beginning on the date on which the qualified historic structure received final certification and was placed in service, the taxpayer disposes of the taxpayer’s interest in the structure. The recapture amount is the credit taken or transferred by the taxpayer minus the credit allowed for ownership.
      Related Documents

      New Requirement for State HTC Applications; Historic Rehabilitation Tax Credit Phased In Projects; Continuation Amendment Sheet; Massachusetts Historic Rehabilitation Tax Credit Final Regulations; MHC HRC Questionnaire Attachment; MHC HRC Questionnaire Instructions; TIR 15-6 Historic Rehabilitation Tax Credit-Transferring Awards; Multi-Phased Projects and Recapture; Advanced Training Presentation (April 8, 2016)

      Other Information 

      At least 25 percent of the tax credits shall be allowed to developments that contain affordable housing whenever possible and consistent with the criteria.

      10 percent of the tax credits awarded annually shall be dedicated to forward-year funding.

      Any taxpayer, allowed to take the historic rehabilitation credit may transfer the credit, in whole or in part, to any individual or entity, without the requirement of transferring any ownership interest in the project or any interest in the entity which owns the project.

      The Massachusetts state HTC is still considered by the legislature and governor to be a pilot program, which will expire in 2022.

      Program Sunset Date Dec. 31, 2022
      Novogradac Contact Thomas Boccia 
      State Contact

      Massachusetts Historical Commission
      (617) 727-8470

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      Michigan

      Program  
      Administering Agency  
      Proposed Legislation SB 469; HB 5178
      Amending Legislation  
      Related Statutes  
      Application  
      Application Process The taxpayer shall apply to and receive from the Michigan State Housing Authority that he historic significance, the rehabilitation plan and the completed rehabilitation of the historic resource meet the criteria.
      Annual State Cap  
      Transaction Cap

       

      Credit Description The credit shall be 25 percent of the qualified expenditures.
      How to Claim the Credit A qualified taxpayer may claim a portion of a credit and assign the remaining amount. If the qualified taxpayer both claims and assigns portions of the credit, the qualified taxpayer shall claim the portion it claims in the tax year in which a certificate of completed rehabilitation is issued.
      Bifurcated from Federal HTC?  
      Credit Period (Compliance) 5 years
      Recapture Recapture provisions will be enacted if the new owner sells or disposes of the property within five years after the new owner acquired the property.
      Related Documents

       

        Other Information 

        Qualified property after Dec. 31, 2017

        If the credit allowed for the tax year and an unused carryforward of the credit allowed exceeds the taxpayer’s tax liability for the tax year, that portion that exceeds the tax liability for the tax year shall not be refunded but may be carried forward to offset tax liability in subsequent tax years for 10 years or until used up, whichever occurs first. If the credit amount is less than $250,000, a qualified taxpayer may elect to forgo the carryover period and receive a refund of the amount of the credit that exceeds the qualified taxpayer’s tax liability. The amount of the refund shall be equal to 90 percent of the amount of the credit that exceeds the qualified taxpayer’s tax liability. An election under this subsection shall be made in the year that a certificate of completed rehabilitation is issued and shall be irrevocable.

        Program Sunset Date  
        Novogradac Contact  

        State Contact

         

         

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        Minnesota

        Program Minnesota Historic Structure Rehabilitation Tax Credit
        Administering Agency Minnesota Historical Society
        Enacting Legislation H.F. 2695
        Amending Legislation H.F. 677
        Related Statutes Minnesota Statutes Section 290.0681
        Application Part A of the Minnesota Application, Part B of the Minnesota Application, Instructions for completing the Minnesota Application
        Application Process Apply for the state and the federal credit together.
        Annual State Cap Not applicable
        Transaction Cap Not applicable
        Credit Description The state offers either a refundable credit worth 100 percent of the federal credit or a grant worth 90 percent of the federal credit for qualified rehabilitation projects.
        How to Claim the Credit Use Form M4 and Schedule KPC
        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) Not applicable
        Recapture Not available
        Other Information

        Not applicable

        Related Documents Brochure, General Information, Instructions for completing the QRE Schedule, QRE Schedule for Parts A and B, Revenue Notice #12-06 Assignment of Credit Certificate, Historic Tax Credits What's the Big Deal About Small Deals Podcast, Tax Credits and the Power of Money Podcast
        Program Sunset Date June 30, 2021
        State Contact

        Natascha Wiener
        Senior Design Reviewer

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        Mississippi

        Program Mississippi Historic Tax Credit
        Administering Agency Not Applicable
        Proposing Legislation H.B. 1314
        Amending Legislation Not Applicable
        Related Statutes Not Applicable
        Application Not Applicable
        Application Process Apply to Mississippi Department of Archives and History, which shall issue a certificate evidencing the eligible credit if the taxpayer is eligible.
        Annual State Cap $12 million ($120 million in program history)
        Transaction Cap Not Available
        Credit Description 25 percent credit for rehabilitation expenses for properties with expense of more than $5,000 for owner-occupied dwelling or if rehabilitation costs exceed 50 percent of total basis in all other properties. 
        How to Claim the Credit

        Taxpayer shall attach certificate from Mississippi Department of Archives and History to all income tax returns on which it is claimed.

        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance)

        Not Available

        Recapture If property is not listed on National Register of Historic Places within 30 months of claiming the credit, its district isn’t listed on the National Register of Historic Places within 30 months or the rehabilitation is abandoned.
        Related Documents

        Not Available

        Other Information 
        • If tax credit amount exceeds $250,000, taxpayer may elect to claim a refund in amount of 75 percent of the excess credit in lieu of a 10-year carryforward.
        • Taxpayers who were issued certificate of eligibility before July 1, 2016, but didn’t receive the credit due to previous program reaching limit on aggregate amount shall be given priority for tax credits awarded after July 1, 2016.
        • Nonprofits are ineligible for credit.
        Program Sunset Date Dec. 31, 2020
        State Contact

        Not Available

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        Missouri

        Program Missouri Historic Tax Credits
        Administering Agency Missouri Department of Natural Resources
        Enacting Legislation S.B. 1
        Amending Legislation S.B. 1099; H.B. 1865; SB 773
        Related Statutes Missouri Revised Statutes Section 253.550
        Application Preliminary Approval Form 1-Part 1A, Part 1B - (not required if Federal Part 2 is filed), Request for Additional CreditState Historic Preservation Tax Credit Continuation Amendment Sheet, Final Approval Application (Form 2)
        Application Process It is encouraged that owners and developers seeking both state and federal HTCs, apply concurrently.
        Annual State Cap $90 million.
        Transaction Cap $250,000 for non-income producing, single family, owner-occupied residential properties.  No transaction cap on other eligible projects.
        Credit Description

        Missouri provides a credit equal to 25 percent of approved costs associated with qualified rehabilitation.  The credit is available for income producing, for sale and owner occupied residential properties that are either individually listed on the National Register of Historic Places or are a contributing structure located in a certified historic district.

        Projects with eligible costs less than $1.1 million are not subject to cap.

        Additional $30 million in credits for areas with poverty rates of 20 percent or more. 

        How to Claim the Credit Use Form MO-TC
        Bifurcated from Federal HTC? Can be bifurcated or certificated
        Credit Period (Compliance) The credits can be carried back three years and forward 10 years. 
        Recapture Not Applicable
        Other Information Projects subject to the cap are prioritized on first-come first serve basis; where applications received on same day, lottery will be held. Unfunded projects carry over into next funding round. Qualified expenditures must exceed 50 percent of total basis of the property.
        Related Documents Preliminary Application and GuidelinesHistoric Expense Form, Historic Preservation Tax Credit Program Flier, Missouri Transfer Form
        Program Sunset Date Not Applicable
        Novogradac Contact Michael Kressig
        State Contact

        State Historic Preservation Office
        (800) 361-4827
        (573) 751-7858

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        Montana

        Program Montana Historic Rehabilitation Income Tax Credit Program
        Administering Agency Montana Historical Society
        Enacting Legislation H.B. 619
        Amending Legislation H.B. 631
        Related Statutes Montana Code Section 15-31-151
        Application Not Applicable
        Application Process There is no application process for the state tax credit beyond the successful applicant’s own state income tax forms.
        Annual State Cap Not Applicable
        Transaction Cap Not Applicable
        Credit Description The state tax credit is equal to 25 percent of the amount an owner claims under the federal program.
        How to Claim the Credit Use Schedule V
        Bifurcated from Federal HTC? No
        Credit Period (Compliance) The credits can be carried forward seven years. (Not applicable.)
        Recapture Not Applicable
        Related Documents Montana State Historic Tax Credits Information
        Other Information Not Applicable
        Program Sunset Date Not Applicable
        Novogradac Contact Thomas Boccia
        State Contact

        Montana State Historic Preservation Office
        (406) 444-7715

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        Nebraska

        Program Nebraska Job Creation and  Mainstreet Revitalization Act
        Administering Agency Nebraska State Historical Society
        Enacting Legislation L.B. 191
        Amending Legislation Amendment 707*Amendment 1918*
        Related Statutes Not Available
        Application Available on Website 
        Application Process

        The application shall include plans and specifications, an estimate of the cost of the project prepared by a licensed architect, licensed engineer or licensed contractor and a request for a specific amount of credits based on such estimate. The officer shall review the application and, within 21 days after receiving the application, shall determine whether the information contained therein is complete. The officer shall notify the applicant in writing of the determination within five business days after making the determination.

        NHTC Part 2 applications must be approved before work begins. 

        Annual State Cap $15 Million
        Transaction Cap $1 Million
        Credit Description 20 percent credit against income, deposit or premium tax for rehabilitation of historically significant real property except for a single-family residence. 

        $4 million set aside for projects seeking less than $100,000 in credits. 

        How to Claim the Credit On state income tax form against income tax, financial institution tax or insurance premium tax.
        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) The credits can be carried forward five years. (Five years.)
        Recapture Same as federal
        Other Information

        Not Applicable

        Related Documents Application Instructions; Tax Form 3800N
        Program Sunset Date Dec. 31, 2022
        Novogradac Contact Thomas Boccia
        State Contact

        Nebraska State Historic Preservation Office
        teresa.fatemi@nebraska.gov
        (402) 471-4787

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        New Mexico

        Program New Mexico Income Tax Credit for Registered Cultural Properties Program
        Administering Agency New Mexico Department of Cultural Affairs, Historic Preservation Division
        Enacting Legislation New Mexico Cultural Properties Protection Act
        Amending Legislation H.B. 606
        Related Statutes New Mexico Code 4-10.9
        Application Application
        Application Process Apply separately for the state and federal credits.
        Annual State Cap Not Applicable
        Transaction Cap

        $25,000 outside an Arts and Cultural District

        $50,000 located within an Arts and Cultural District

        Credit Description The state tax credit is equal to 50 percent of qualified expenditures for all properties listed in the State Register Cultural Properties.
        How to Claim the Credit

        Individuals use Form PIT-4, and corporations use Form CIT-4

        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) The credits can be carried forward four years. (Five years.)
        Recapture In case of the removal of the property from the register by the committee because of unauthorized or improper alteration or preservation technique which destroys the significant qualities of the structure, or by reason of destruction or loss of the property, or for any other reason which makes a property ineligible for continued listing on the register, the division will inform the taxation and revenue department that no further credit may be claimed by that owner for that project.
         
        Related Documents New Mexico Tax and Loan Brochure, Regulations, State Tax Credit Guide    
        Other Information

        The State Cultural Properties Review Committee (CPRC) must approve the proposed rehabilitation prior to the beginning of the project.

         Carry forward: 4 years

        Program Sunset Date Not Applicable
        Novogradac Contact Thomas Boccia
        State Contact

        Harvey Kaplan
        Tax Credits & Architectural Review
        (505) 827-3971

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        New York

        Program New York Rehabilitation Tax Credit for Commercial Properties
        Administering Agency New York State Historic Preservation Office
        Enacting Legislation S.B. 8392
        Amending Legislation A.B. 9023; S. 2609
        Related Statutes Laws of New York Section 210-B-26
        Application Not Applicable
        Application Process There is no application form. After Part 3 of the federal application is approved by the National Park Service and, the state fees are paid, The New York State Office of Parks, Recreation and Historic Preservation will issue a certification allowing owners to take the state credit.
        Annual State Cap Not Applicable.
        Transaction Cap

        $5 Million

        Credit Description 20 percent of qualified expenditures for commercial properties located in a census tract with a median income at or below the State Family Median Income level, a Qualified Census Tract or  in a state Area of Chronic Economic Distress.
        How to Claim the Credit Use Form CT-238 for corporations and Form IT-238 for all others.
        Bifurcated from Federal HTC? No
        Credit Period (Compliance) Credits can be carried forward indefinitely. (Five-year compliance period.)
        Recapture Same as federal
        Other Information The credit is refundable for projects placed in service after 2015.
        Related Documents Determining Census Tract OnlineFinding the Census Tract Online, New York State Historic Properties Tax Credits Commercial and Homeowner Programs, New York State Historic Properties Tax Credits FAQ, Tax Credit Programs Comparison Chart 
        Program Sunset Date Dec. 31, 2019
        Novogradac Contact Charlie Rhuda
        State Contact

        New York State Division for Historic Preservation
        (518) 237-8643

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        New York

        Program New York Historic Barn Rehabilitation Tax Credit
        Administering Agency New York State Historic Preservation Office
        Enacting Legislation Farmer's Protection and Farm Preservation Act
        Amending Legislation  
        Related Statutes  
        Application IT-212-ATT Claim for Historic Barn Rehabilitation Credit, Instructions Historic Barn Credit 
        Application Process Apply for the state credit and federal credit separately.  
        Annual State Cap Not Applicable
        Transaction Cap

        Not Applicable

        Credit Description 25 percent of the cost of rehabilitating historic barns that fulfill the following conditions: it must be a barn; it must meet the tax definition of income-producing; it must have been built or placed in agricultural service before 1936; the rehabilitation cannot "materially alter the historic appearance" of the barn; and only costs incurred after January 1, 2003 are eligible.
        How to Claim the Credit Use Form CT-46-ATT for corporations and Form IT-212-ATT for all others.
        Bifurcated from Federal HTC? No
        Credit Period (Compliance) Can carry over the unused amount to the following 10 tax years, or, if  the claimant is the owner of a new business, may receive a refund.
        Recapture Not Applicable
        Other Information Not Applicable
        Related Documents Not Applicable 
        Program Sunset Date Not Applicable
        Novogradac Contact Charlie Rhuda
        State Contact

        New York State Division for Historic Preservation
        (518) 237-8643

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        New York

        Program New York Historic Homeownership Rehabilitation Tax Credit  
        Administernig Agency New York State Historic Preservation Office
        Enacting Legislation S.B. 8392
        Amending Legislation S.B. 6257
        Related Statutes Laws of New York Section 210-B-26
        Application Homeowner Tax Credit Application Form
        Application Process These projects do not qualify for the federal credit; you must apply specifically to the state program. 
        Annual State Cap Not Applicable
        Transaction Cap

        $50,000

        Credit Description The state offers an income tax credit equal to 20 percent of qualified rehabilitation costs for historic owner-occupied residential structures. Homes must be in eligible census tract and be on state or national Register of Historic Places or be a contributing building in a historic district listed on state or national Register of Historic Places.
        How to Claim the Credit Use Form IT-237
        Bifurcated from Federal HTC? No
        Credit Period (Compliance) There is no carry forward. If the credit exceeds your income tax, and your adjusted gross income is under $60,000, the excess will be refunded.
        Recapture Not Applicable
        Related Documents New York State Historic Properties Tax Credits Commercial and Homeowner Programs, Tax Credit Programs Comparison Chart
        Other Information At least $5 million must be expended on qualifying work and at least 5 percent of the total project must be spent on the exterior of the building. All work must be approved by OPRHP prior to start of construction. 
        Program Sunset Date Dec. 31, 2019
        Novogradac Contact Charlie Rhuda
        State Contact

        New York State Division for Historic Preservation
        (518) 237-8643

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        North Carolina

        Program North Carolina Credit for Rehabilitating Income-Producing Historic Structure
        Administernig Agency North Carolina State Historic Preservation Office
        Enacting Legislation H.B. 97
        Amending Legislation Not Applicable
        Related Statutes North Carolina General Statutes Section 105-129.015
        Application Must contact state for  applications and instructions
        Application Process Apply for the state and federal credits separately.
        Annual State Cap Not Applicable
        Transaction Cap

        $4.5 million, based on $20 million project of vacant mill in distressed county.

        Credit Description

        15 percent of qualified rehabilitation costs of up to $10 million for historic income-producing properties; 10 percent for $10 million to $20 million; no credit for more than $20 million.

        5 percent additional credit with $20 million project cap for projects located in either Tier One or Tier Two areas or on an eligible targeted investment site on expenditures made prior to Dec 31, 2016.

        How to Claim the Credit The taxpayer must provide a copy of the certification obtained from the State Historic Preservation Officer and attach it to their state income tax returns.
        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) Can be taken in year place in service and carried forward nine years. (Five years.)
        Recapture Same as federal
        Related Documents

        Nomination Private Consultants List, Factsheet, The New North Carolina Historic Preservation Tax Credits 

        Other Information Former state mill rehabilitation tax credit rolled into this credit. Eligibility certifications for projects certified under previous mill program expire Jan. 1, 2023.
        Program Sunset Date Jan. 1, 2020
        Novogradac Contact Rebecca Darling
        State Contact

        Tim Simmons
        (919) 807-6585

        Mandy Bullman
        (919) 807-6590

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        North Carolina

        Program North Carolina Historic Preservation State Tax Credits for Non-Income Producing Properties
        Administernig Agency North Carolina State Historic Preservation Office
        Enacting Legislation H.B. 97
        Amending Legislation Not Applicable
        Related Statutes North Carolina General Statutes Section 105-129.015
        Application For copies of tax credit applications and instructions, communicate with the state contact and provide your name, address, and name and location of your project.
        Application Process These properties do not qualify for the federal credit. You must apply only for the state credit.
        Annual State Cap Not Applicable
        Transaction Cap

        $22,500

        Credit Description

        The state offers an income tax credit equal to 15 percent of eligible rehabilitation expenses for properties on National Register or contributing to a National Register-listed Historic District.

        How to Claim the Credit To claim the credit allowed by this subsection, the taxpayer must provide a copy of the certification obtained from the State Historic Preservation Officer and attach it their state income tax returns.
        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) Credit may be taken in year placed in service and carried forward nine years. (Five years.)
        Recapture Same as federal
        Related Documents

        Factsheet, The New North Carolina Historic Preservation Tax Credits 

        Other Information The project threshold is $10,000 of rehabilitation expenses. Expenses must be incurred within a 24-month period. Credits may be transferred with property if transfer of property occurs before its placed in service. Taxpayer can claim credits for rehabilitation once every five years
        Program Sunset Date Jan. 1, 2020
        Novogradac Contact Rebecca Darling
        State Contact

        Tim Simmons
        (919) 807-6585

        David Christenbury
        (919) 807-6574

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        North Dakota

        Program North Dakota Renaissance Zone Rehabilitation Tax Credit
        Administernig Agency State Historical Society of North Dakota
        Enacting Legislation S.B. 2033
        Amending Legislation Not Applicable
        Related Statutes North Dakota Century Code Chapter 40-63
        Application Applying for the Renaissance Zone Rehabilitation Tax Credits
        Application Process Apply for the state and federal credits separately.
        Annual State Cap Not Applicable
        Transaction Cap $250,000
        Credit Description 25 percent of qualified rehabilitation expenditures for a project that is part of a renaissance zone project and is eligible to be on the National Register of Historic Places.
        How to Claim the Credit

        Use Schedule RZ

        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) The credit can be carried forward five years. (Not Applicable.)
        Recapture Not Applicable
        Related Documents Renaissance Zone Act Tax Incentives Guideline, Renaissance Zone State Tax Incentives FAQ
        Other Information

        Not Applicable

        Program Sunset Date Not Applicable
        Novogradac Contact Thomas Boccia
        State Contact

        State Historical Society of North Dakota
        (701) 328-2666

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        Ohio

        Program

        Ohio Historic Preservation Tax Credit

        Administernig Agency Ohio Development Services Agency
        Enacting Legislation H.B. 149
        Amending Legislation H.B. 153; Am. Sub. H.B. 554; S.B. 235
        Related Statutes Ohio Administrative Code Section 5726.52; Ohio Administrative Code Section 149.311Ohio Administrative Code Section 122: 19-1-01 to -08
        Application Ohio Historic Preservation Tax Credit Pipeline Pilot Initiative Application, Application Amendment Request, (Round 18 Coming Soon)
        Application Process Apply for the state and federal credits separately.
        Annual State Cap $60 Million
        Transaction Cap $5 Million
        Credit Description

        25 percent credit for owners and long-term qualified lessees of certified historic buildings.

        How to Claim the Credit

        Attach tax credit certificate to state tax return.

        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) The credit can be carried forward five years. (Four years.)
        Recapture Not Applicable
        Other Information

        Applicant must have CPA certify costs if qualified rehabilitation expenditures exceed $200,000. The director of development services can approve one “catalytic project” per fiscal biennium that shall receive a tax credit equal to twenty-five percent of the dollar amount indicated on the certificate for a credit of no more than  $5 million. A “catalytic project” is defined as a project whose rehabilitation will spur economic growth within 2,500 feet of the historic building.

        Related Documents Ohio Historic Preservation Tax Credit Pipeline Pilot Initiative, Factsheet, Program Policies, FAQs
        Program Sunset Date Not Applicable
        Novogradac Contact Thomas Boccia
        State Contact Lisa Brownell
        (614)  446-6667

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        Oklahoma

        Program Oklahoma Investment Tax Credits for Rehabilitation
        Administernig Agency Oklahoma Historical Society
        Enacting Legislation H.B. 3024
        Amending Legislation  S.B. 1267; S.B. 1230Oklahoma S.B. 556 (introduced January 24, 2017)
        Related Statutes Oklahoma Statutes Section 68-2357.41
        Application To receive an application, contact Jennifer Bailey at (405) 522-4479 or email her at jbailey@okhistory.org.
        Application Process Apply for the state and federal credits simultaneously.
        Annual State Cap Not Applicable
        Transaction Cap Not Applicable
        Credit Description 20 percent income tax credit for all eligible commercial and rental residential properties that qualify for the federal tax credit.
        How to Claim the Credit

        Use Form 511CR

        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) The credit can be carried forward 10 years. (Not Applicable.)
        Recapture Not Applicable
        Other Information Credits are freely transferable for five years.
        Related Documents Investment Tax Credits for Rehabilitation, Tax Credit Rehabilitation FAQ
        Program Sunset Date Not Applicable
        Novogradac Contact Thomas Boccia
        State Contact

        Oklahoma Historic Society
        Jennifer Bailey
        (405) 522-4479

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        Pennsylvania

        Program Pennsylvania Historic Preservation Incentive Tax Credit Program
        Administernig Agency Pennsylvania Department of Community and Economic Development
        Enacting Legislation H.B. 761
        Amending Legislation Not Applicable
        Related Statutes Not Applicable
        Application Single Application For Assistance, Part 1, Part 2, Part 3
        Application Process Apply for the state and federal credits separately.
        Annual State Cap $3 Million
        Transaction Cap $500,000
        Credit Description 25 percent credit for eligible properties that qualify for the federal tax credit.
        How to Claim the Credit

        RCT-101 for C Corporations, PA-20S PA-65 Schedule OC for S Corporations, partnerships and limited liability companies filing as partnerships or PA S corporations for federal income tax purposes, PA-40 Schedule OC  for individuals. Also, a copy of the approved credit certificate to the Department of Revenue should be attached.

         

         

        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) The credit can be carried forward seven years. (Not applicable.)
        Recapture Not Applicable
        Other Information

        The tax credit reservation will expire 24 months from the date of issuance.  Requests for final certification should be made prior to the expiration date of the tax credit reservation.

        Applicant must have an independent certified public accountant certify costs.

        Related Documents Historic Preservation Tax Credit Guidelines
        Program Sunset Date July 1, 2019
        Novogradac Contact Thomas Boccia
        State Contact

        866-466-3972
        Regional contact information

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        Rhode Island

        Program Rhode Island Historic Preservation Tax Credit Program
        Administernig Agency Rhode Island Historical Preservation and Heritage Commission
        Enacting Legislation H. 6060
        Amending Legislation H.B. 5127; Rhode Island Regulation CR 14-16
        Related Statutes Rhode Island General Laws 44-33.6 Historic Tax Credit
        Application Part 1, Part 2, Part 3, Application Checklist, Application Instructions, Application 
        Application Process You must apply for the state and federal credits separately. Attach Form HTC-13 to state tax return to apply for the credit.
        Annual State Cap The aggregate credits authorized to be reserved shall not exceed sums estimated to be available in the historic preservation tax credit fund as determined by the Division of Taxation.
        Transaction Cap $5 Million
        Credit Description

        20 percent for commercial property owners, condominiums and nonprofits; 25 percent if 25 percent of total rentable space or entire first floor is used in a trade or business.

        Owner-occupied residences not eligible.

        How to Claim the Credit

        Attach the Division of Taxation’s certification as to the amount of the tax credit to all state tax returns on which the credit is claimed..

        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) The credit can be carried forward 10 years. (Not applicable.)
        Recapture Any credit claimed under the Act shall be recaptured in full (by increasing the taxpayer’s tax for the year by the total amount of historic preservation tax credit actually used against the tax) if, within 24 months after the issuance of a Certificate of Completed Work, the property becomes Exempt from Real Property Tax.
        Related Documents Emergency Regulation, Photographic Instructions, Potential Causes for Denial of Tax Credits, Reauthorization of the Historic Structures Tax Credit, Final Rules and RegulationsNotice 2017-02
        Other Information Not Applicable
        Program Sunset Date June 30, 2023
        Novogradac Contact Tony Grappone
        State Contact (401) 222-2678
        hphc.info@preservation.ri.gov

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        South Carolina

        Program South Carolina Historic Rehabilitation Tax Credit Program
        Administernig Agency South Carolina Department of Archives and History State Historic Preservation Office
        Enacting Legislation Act No. 229
        Amending Legislation Act No. 116
        Related Statutes South Carolina Code of Laws Section 12-6
        Application Apply using the federal application
        Application Process Apply for the state and federal credits together
        Annual State Cap

        Not Applicable

        Transaction Cap

        Per-building cap of $1 million; No per-project dollar caps for 10 percent credit.

        Credit Description

        10 percent credit for commercial properties eligible for federal credit; 25 percent for other eligible properties 

        Credits taken against income and license taxes. All credits must be taken in 3 equal annual installments.

        Pre-approval required. Minimum investment for non-commercial properties: $15,000.

        Credits for owner-occupied residences limited to one per structure each 10 years.

        How to Claim the Credit

        Use Form SC1040TC

        Bifurcated from Federal HTC? No
        Credit Period (Compliance) The credit can be carried forward five years. (Five years.)
        Recapture

        Same as federal

        Other Information Not Applicable
        Related Documents Not Applicable
        Program Sunset Date Not Applicable
        Novogradac Contact Brad Elphick
        State Contact Dan Elswick
        (803) 896-6174                                                                                                                              

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        South Carolina

        Program South Carolina Textiles Communities Revitalization Tax Credit Program
        Administernig Agency South Carolina Department of Archives and History State Historic Preservation Office
        Enacting Legislation Act No. 227
        Amending Legislation Act No. 313, Act No. 182
        Related Statutes South Carolina Code of Laws Section 12-65-10
        Application Submit  a “Notice of Intent to Rehabilitate” letter.
        Application Process The notice letter must include intent to rehabilitate the site, location, amount of acreage, estimated expenses, which buildings will be renovated or demolished, and whether new construction is to be involved.
        Annual State Cap Not Applicable
        Transaction Cap $500,000
        Credit Description

        25 percent of qualified expenditures against real property taxes                         

        25 percent of qualified expenditures against state income tax or corporate license fee.

        25 percent tax credit against income, corporate license fees, and insurance premium taxes, for rehabilitating abandoned textile mill buildings.

        Credits taken in 5 equal installments.

        Can be claimed with historic tax credit.

        South Carolina also has a 25 percent tax credit against income taxes and corporate license fees, taken in five equal installments, for rehabilitating abandoned buildings where 66 percent of space has been non-income producing for a minimum of 5 years.

        Taxpayer, if qualifying, is only permitted to one of three credits allowed through the Abandoned Buildings Act, the Textiles Communities Revitalization Act, or the Retail Facilities Revitalization Act and cannot exceed 50 percent of tax liability.

        Alternatively, credit can be taken against local real property taxes if approved by positive majority vote of the municipality or county after a public hearing. Credit up to 75 percent of real property taxes must be taken each year for up to 8 years.

        Credits are transferable by certificate and by disproportionate allocation. Available for projects initiated in 2012. 

        How to Claim the Credit

        Use Form SC1040TC

        Bifurcated from Federal HTC? No
        Credit Period (Compliance) The credit can be carried forward five or eight years, depending on which tax it is taken against (see other information below). (Not applicable.)
        Recapture

        Not Applicable

        Related Documents Business Income Tax Property Rehabilitation Credits, Tips for Developers of Textile Mill Projects in South Carolina
        Other Information If the actual rehabilitation expenses exceed 125 percent of the estimated expenses set forth in the Notice of Intent to Rehabilitate, the taxpayer qualifies for the credit based on 125 percent of the estimated expenses as opposed to the actual expenses it incurred in rehabilitating the textile mill site. If the actual rehabilitation expenses are below 80 percent of the estimated rehabilitation expenses, the credit is not allowed. The ordinance must provide for the credit to be taken as a credit against up to 75 percent of the real property taxes due on the textile mill site each year for up to eight years. It may be taken against state income tax or corporate license fee in equal installments over five years, limited to 50 percent of the taxpayer’s liability.
        Program Sunset Date Dec. 31, 2019
        Novogradac Contact Brad Elphick
        State Contact Dan Elswick
        (803) 896-6174

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        Tennessee (Proposed)

        Program Historic Rehabilitation Investment Incentive Act
        Administernig Agency Tennessee Code Title 56, Chapter 4, Sections 2-8
        Enacting Legislation S.B. 1040, H.B. 1061
        Amending Legislation Not Available
        Related Statutes  
        Application Not Available
        Application Process Not Available
        Annual State Cap None
        Transaction Cap Not Available
        Credit Description A 25 percent credit for qualified rehabilitation expenses, with minimum expenditure of $5,000 on QREs. Credit is claimed in three equal installments, but can be carried forward five years.
        How to Claim the Credit

        Not Available

        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) Not Available
        Recapture Not Available
        Other Information  
        Related Documents Not Available
        Program Sunset Date Not Available
        Novogradac Contact Not Available
        State Contact Not Available

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        Texas

        Program Texas Historic Preservation Tax Credit Program
        Administernig Agency Texas Historical Commission
        Enacting Legislation H.B. 500
        Amending Legislation Not Applicable
        Related Statutes Texas Tax Code Section 2-F-171.901; Adopted Eligibility Amendments
        Application Application Guide, Part A, Part B, Part C, Amendment and Advisory Determination Form
        Application Process An entity shall file with any report on which the credit is claimed a copy of the certificate of eligibility issued by the commission under Section 171.904 and any other information required by the comptroller to sufficiently demonstrate that the entity is eligible for the credit.
        Annual State Cap Not Applicable
        Transaction Cap Not Applicable
        Credit Description

        25% tax credit against franchise and insurance premium taxes for certified historic structures rehabilitated and put in service on or after Sept. 1, 2013.

        Owners and long-term lessees (with 39 year lease) can use the credit.

        Public university can use for costs incurred between June 14, 2017 and Jan. 1, 2022. No annual or per‐project cap.

        Carry forward: 5 years. Minimum investment: $5,000.

        How to Claim the Credit

        The entity must forward the certificate of eligibility and the following documentation to the comptroller to claim the tax credit: an audited cost report issued by a certified public accountant, as defined by Section 901.002, Occupations Code, that itemizes the eligible costs and expenses incurred in the certified rehabilitation of the certified historic structure by the entity, the date the certified historic structure was first placed in service after the rehabilitation and evidence of  that placement in service; and an attestation of the total eligible costs and expenses incurred by the entity on the rehabilitation of the certified historic structure.

        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) The credit can be carried forward five years. (Not applicable.)
        Recapture Not Applicable
        Other Information

        Qualified expenditures must be at least $5,000 in value to qualify. 

        Large projects can be certified in phases.

        Related Documents Preservation Fact Sheet, Comparison Chart, Application Flow Chart
        Program Sunset Date Not Applicable
        Novogradac Contact Michael Kressig
        State Contact Texas Historical Commission
        (512) 463-6100

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        Utah

        Program Utah Historic Preservation Tax Credit Program
        Administernig Agency Utah Division of State History  
        Enacting Legislation Not available
        Amending Legislation S.B. 37
        Related Statutes Utah Code Section 59-10-1006
        Application Historic Preservation Tax Credit Application
        Application Process Apply for the federal and state credits separately.
        Annual State Cap Not Applicable
        Transaction Cap Not Applicable
        Credit Description 20 percent of qualified expenditures for buildings occupied by owners or used as residential rentals.
        How to Claim the Credit Use Form TC-40H
        Bifurcated from Federal HTC? No
        Credit Period (Compliance) The credit can be carried forward five years. (Three years.)
        Recapture Same as federal, but for three years.
        Other Information Total expenditures must exceed $10,000. Building must be listed on National Register of Historic Places at time of application or within three years of approval.
        Related Documents Not Applicable
        Program Sunset Date Not Applicable
        Novogradac Contact Thomas Boccia
        State Contact Nelson Knight
        (801) 245-7244

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        Vermont

        Program Vermont Downtown and Village Tax Credit
        Administernig Agency

        Vermont Agency of Commerce and Community Development

        Enacting Legislation Act No. 183
        Amending Legislation Act No. 199, Act 57
        Related Statutes Vermont Statutes Chapter 32: Section 5930cc, Section 5930dd, Section 5930ee
        Application Application for Downtown and Village Center Tax Credits
        Application Process

        Apply for the federal and state credits separately.

        Annual State Cap $2.4 million
        Transaction Cap

        Code: $50,000 for the sprinkler, $50,000 for the elevator, $12,000 for a lift, $25,00 for other code requirements. If eligible, the credit may be combined with the 10 percent historic on OR 25 percent façade credit, but not both.

        Historic: 10 percent on the first $500,000 and half the costs exceeding $500,000. Credit may be used in combination with the 50 percent code credit only.

        Facade: $25,000 Credit may be used in combination with the 50 percent code credit only.

        Credit Description

        Code: 50 percent of qualified expenditures for income-producing property built before 1983 located within a Downtown or Village Center District.

        Historic: 10 percent of qualified expenditures for an approved federal 20 percent application and a building located within a Downtown or Village Center District.

        Facade: 25 percent of qualified expenditures for income-producing property built before 1983 and located within a Downtown or Village Center District.

        How to Claim the Credit Attach copy of tax credit certificate to tax form
        Bifurcated from Federal HTC? Yes
        Credit Period (Compliance) The credit can be carried forward for up to nine years after the initial year that any portion of the credit allocation is claimed.  If within five years after the date of the credit allocation to the applicant no claim for tax credit has been filed, the tax credit allocation shall be rescinded.
        Recapture Same as federal for the historic credit.
        Other Information Combination of credits is possible, up to 70 percent.  Selection criteria are applied to ensure credits are allocated to projects that provide the most public benefit. Projects must be finished within five years of date of allocation. Credit can only be “sold” to Vermont-based banks or insurance companies.
        Related Documents

        Tax Credits for Designated Downtowns and Village Centers, FAQs, Tax Credit Guidelines

        Program Sunset Date Not Applicable
        Novogradac Contact Tony Grappone
        State Contact Caitlin Corkins
        Tax Credits & Grants Coordinator
        (802) 828-3047

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        Virginia

        Program Virginia Rehabilitation Tax Credits
        Administernig Agency Virginia Department of Historic Resources
        Enacting Legislation

        H.B. 1453

        Amending Legislation H.B. 531 (S.B. 444); S.B. 68, Amended Regulations
        Related Statutes Virginia Code Section 58.1-339.2
        Application Part 1, Part 2, Part 3Application Checklist
        Application Process Apply for the federal and state credits separately.
        Annual State Cap Not Applicable
        Transaction Cap $5 million (for taxable years beginning on and after Jan. 1, 2017, but before Jan. 1, 2019)
        Credit Description

        25 percent for commercial and owner-occupied residential properties.

        Per-taxpayer cap: $5 million between Jan 1, 2017-Jan. 1, 2019.

        Reconstruction and improvements must amount to at least 25 percent of the assessed value for owner-occupied buildings and at least 50 percent for non-owner-occupied buildings. 

        How to Claim the Credit Use Schedule CR
        Credit Period (Compliance) The credit can be carried forward 10 years. (The department reserves the right to make inspections at any time up to three years after certification of completed rehabilitation and to revoke a certification, after giving the owner 30 days to comment on the matter, if it is determined that the rehabilitation project was not undertaken as represented in the application and supporting documentation.)
        Recapture Same as federal, except state doesn’t require ownership to remain the same for five  years.
        Other Information If rehabilitation expenses exceed $500,000,  an audit report by a certified public accountant must be submitted; if rehabilitation expenses are less than $500,000, an agreed-upon procedures engagement report by a certified public accountant is required. Reconstruction and improvements must amount to at least 25 percent of assessed value for owner-occupied structures, 50 percent of assessed value for all other eligible structures.
        Related Documents Virginia Regulations, Billing Statement, Sample Virginia Rehabilitation Proposal
        Program Sunset Date Not Applicable
        Novogradac Contact Michael Kressig
        State Contact

        Elizabeth Tune
        (804) 482-6093

        Chris Novelli
        (804) 482-6097

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        West Virginia

        Program West Virginia Historic Rehabilitation Tax Credit Program
        Administernig Agency West Virginia Division of Culture and History
        Enacting Legislation H.B. 2882
        Amending Legislation H.B. 203H.B. 2493
        Related Statutes West Virginia Code Section 11-24-23
        Application The state historic preservation officer shall prescribe and publish a form and instructions for an application for reservation and issuance of the tax credits.
        Application Process

        File application with state historic preservation office before construction. For the commercial credit, apply using the federal application.  For the residential credit, use the residential application form (Part 1, Part 2, Part 3).

        Annual State Cap $30 million
        Transaction Cap $10 million
        Credit Description

        25 percent credit for buildings eligible for federal credit after Dec 31, 2017.

         

        $5 million set aside for projects with less than $500,000 in QRE. Credits accessible on Jan 1, 2020.

        Part 3 required within 36 months and for phased projects Part 2 required within 60 months. Rescinded credits can be reallocated by SHPO.

        Long-term lessee can receive the credit. Minimum investment: $5,000 or the adjusted gross basis. Recipient of credit must not be delinquent in payment of taxes.

        Commercial buildings entitled to carry forward 10 years.

        Carry backward: same as federal credit but after Jan 1, 2020 carry forward only. Recapture rules same as federal credit.  

        How to Claim the Credit The tax credits will be awarded on a first come, first served basis. At the time the historic preservation certification application, Part 2 - Description of Rehabilitation, is received by the state historic preservation office, the project will be placed on a reservation list, which will reserve the tax credit amount listed on the application. The historic preservation certification application, Part 2 - Description of Rehabilitation, will be reviewed by the state historic preservation office for completion and submitted to the National Park Service for full review. At the time the historic preservation certification application, Part 2 - Description of Rehabilitation, is submitted to the National Park Service, the state historic preservation officer shall send a request for the fee prescribed in subsection (e) of this section to the property owner. Upon approval of the historic preservation certification application, Part 2 - Description of Rehabilitation, from the National Park Service, including approval with conditions, that the project will meet the Secretary of the Interior’s standards for rehabilitation, the owner of the building will receive guarantee of the tax credits from the state historic preservation office. 
        Credit Period (Compliance) That for tax years beginning on and after January 1, 2020, any unused portion of the credit authorized by section twenty-three a of this article, may not be carried back to any prior taxable year: Provided further, That for tax years beginning on and after January 1, 2020, any unused portion of the credit authorized by section twenty-three-a of this article may be carried over to each of the next ten tax years following the first tax year for which the credit entitlement is authorized under this article for a specific qualified rehabilitation buildings investment until used to exhaustion or forfeited due to lapse of time. 
        Recapture  
        Related Documents Not Applicable
        Other Information Providing for the use of tax credit on or after January 1, 2020
        Program Sunset Date Dec. 31, 2022
        Novogradac Contact Michael Kressig
        State Contact Tax Credit Coordinator
        (304) 558-0240

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        Wisconsin

        Program Wisonsin Historic Preservation and Rehabilitated Tax Credit Program
        Administernig Agency Wisconsin Economic Development Corporation
        Enacting Legislation S.B. 259; SB 668
        Amending Legislation A.B. 40A.B. 4
        Related Statutes Wisconsin Statutes Section 238.17
        Application For commercial properties, Historic Preservation Certification Application (Parts 1-3), WEDC Supplemental ApplicationApplication Instructions.  For residential properties, use the Historic Preservation Certification Application.
        Application Process For commercial properties, apply for the federal credit and the state credit either separately or together. Apply before starting work.
        Annual State Cap Not Applicable
        Transaction Cap $10,000 million (Applicant may also claim federal credit. $3.5 million per-project cap)
        Credit Description

        20 percent for certified income-producing properties.

        How to Claim the Credit Use Schedule HR
        Credit Period (Compliance) Not Available
        Recapture Same as federal
        Related Documents Guidelines for Planning Historic Preservation Tax Credit Projects in Wisconsin, Description of HTC program
        Other Information The Wisconsin Economic Development Corporation has partially lifted a moratorium it had placed on issuing historic preservation tax credits because of higher than expected demand for the credits. The moratorium on the Certified Historic Buildings program has been lifted. The moratorium on non-historic developments prior to 1936 remains. The WEDC will collect additional information in order to facilitate any future decisions regarding the program.
        Program Sunset Date Not Applicable
        Novogradac Contact Michael Kressig
        State Contact

        Jen Davel
        (608) 264-6490

        Mark Buechel
        (608) 264-6491

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