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Committee approves lowering rehab tax‑credit threshold to expand access for homeowners
Summary
House Bill 1493 would lower the minimum qualified rehabilitation expense to $5,000 for non‑income producing historic properties (from $25,000), expanding eligibility for homeowners and aiming to preserve historic properties with smaller projects; a preservation group testified in support.
The Revenue & Tax Committee approved House Bill 1493, which would expand eligibility for the state historic rehabilitation income tax credit by lowering the minimum qualified rehabilitation expense for non‑income producing properties from $25,000 to $5,000 and clarifying qualification criteria and…
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