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2023 SESSION

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SB 1066 Historic rehabilitation; increases maximum amount of tax credit.

Introduced by: Scott A. Surovell | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Historic rehabilitation tax credit; increase. Increases from $5 million to $10 million, beginning in taxable year 2023, the maximum amount of the historic rehabilitation tax credit, including amounts carried over from prior taxable years, that may be claimed by a taxpayer in any taxable year. In addition, should the taxpayer incur expenses toward the rehabilitation of a certified historic structure in a locality that has a designated enterprise zone, as defined in the Code, the taxpayer may claim up to an additional $10 million in any taxable year.


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