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Senate advances historic-preservation tax credit after technical amendments
Summary
Senate sponsors amended and advanced SB42, a bill creating a 20% tax credit for residential historic rehabilitation expenditures above a $10,000 threshold; fiscal note estimates a $200,000 FY94 general-fund cost based on $1 million in qualifying work. The measure was placed on the third-reading calendar.
Senate Bill 42, which would create a 20% tax credit for qualified rehabilitation expenditures on residential historic properties, was amended and advanced on Feb. 15. Senator Oakey, the bill's sponsor, offered technical amendments clarifying that the $10,000 threshold is applied to qualifying rehabilitation expenditures and that owner-performed labor…
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