"Homeowners' Historic Property Reinvestment Act"; allows homeowners to claim credit against gross income tax for certain costs of rehabilitating historic properties.

Summary

The bill creates a credit equal to 25 % of eligible rehabilitation costs for owners who restore historic homes they occupy as their principal residence. The credit is limited to projects that cost at least half of the property’s assessed value and to a maximum of $25,000 per property over ten years. It aims to encourage preservation of historic buildings while giving owners tax relief.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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