Catalytic Revitalization Project Tax Credit - Alterations

Summary

The bill revises the definition of a catalytic revitalization project to include substantially vacant or functionally obsolete historic commercial buildings. It increases the state income‑tax credit from 20% to 25% for eligible developers, nonprofits and businesses, and raises the aggregate credit limit to $35 million. The changes aim to spur private investment in historic preservation and community revitalization.

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