Income taxes, state income tax credit for qualified rehabilitation expenses of certified historic properties extended, annual credit amount increased

Summary

The bill prolongs the state income tax credit for owners who substantially rehabilitate certified historic properties, moving the program’s sunset from 2027 to 2032 and raising the yearly credit limit. It also provides a larger credit for projects in rural communities and updates key definitions and technical language. The changes are intended to encourage preservation of historic buildings across the state.

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