Abandoned Buildings Tax Credit

Summary

The bill updates the definition of an abandoned building, removes the requirement that the property previously generated income, and sets new timing and certification rules for the existing tax credit. It applies to owners, lessees, and buyers of qualifying sites and bars the credit from being used as loan collateral. The changes are intended to make the credit more accessible while ensuring clear oversight.

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

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