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Committee clarifies timing for historic-rehabilitation tax credits and refers bill to finance
Summary
The Senate Economic Development Committee on March 20 approved a committee substitute for Senate Bill 8 34 that clarifies when corporate tax credits for qualified rehabilitated buildings may be claimed.
The Senate Economic Development Committee on March 20 approved a committee substitute for Senate Bill 8 34 that clarifies when corporate tax credits for qualified rehabilitated buildings may be claimed.
Committee counsel told members the substitute amends the corporate net income tax article to provide that State Historic Preservation Office-issued tax credit certificates are available in the year the rehabilitated building is placed into service. Counsel said the…
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