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Committee hears bill to double commercial historic rehabilitation tax-credit cap
Summary
House Bill 376 would increase Georgia’s aggregate historic rehabilitation tax-credit cap from $30 million to $60 million and raise per-project caps; supporters said the program is oversubscribed and catalyzes redevelopment statewide.
House Bill 376 (substitute LC590091) received a first hearing in the Income Tax Subcommittee. The bill would raise the historic rehabilitation tax-credit program’s aggregate annual cap from $30,000,000 to $60,000,000, increase per-project caps (from $5,000,000 to $7,500,000 for most projects and from $10,000,000 to $15,000,000 for projects creating more than 200 jobs) and extend program availability through its sunset year.
Supporters, including the…
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