Income and corporate franchise taxes; second assignment of historic structure rehabilitation credit allowed, and requirements for issuing allocation certificates modified.
Income taxes: credits: rehabilitation of certified historic structures.
Revenue and taxation; rehabilitation of historic structures; revise tax credit
Income tax; rehabilitation of certified structures; increase amount of tax credits
Income tax; credits for rehabilitation of historic structures; revise expiration and transferability
Relating to the franchise and insurance premium tax credit for the certified rehabilitation of certified historic structures.
Establishes the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program for qualified rehabilitation expenditures totaling fifty million dollars or more with respect to a certified historic structure that has been vacant, as determined by local code enforcement or other reasonable means, for at least ten of fifteen consecutive years preceding the date of the taxpayer's application for the rehabilitation credit.
Establishes the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program for qualified rehabilitation expenditures totaling fifty million dollars or more with respect to a certified historic structure that has been vacant, as determined by local code enforcement or other reasonable means, for at least ten of fifteen consecutive years preceding the date of the taxpayer's application for the rehabilitation credit.
Extends the date for eligible expenses to qualify for the tax credit for the rehabilitation of historic structures and extends the effectiveness of the credit (Item #19) (EN SEE FISC NOTE GF RV See Note)
Establishes a tax credit for eligible expenses incurred in the rehabilitation of historic structures included on the National Register of Historic Places (Item #19) (RE DECREASE GF RV See Note)