Extends state income tax credit for certified historic structure rehabilitation through 2032 and increases annual credit limits.

This bill extends the state income tax credit for substantial rehabilitation of certified historic structures through tax year 2032. It increases the annual limit on credits, provides certain definitions, and increases the credit amount for properties located in rural communities. The bill also makes nonsubstantive, technical revisions to update existing code language to current style. The tax credit is equal to a percentage of the qualified rehabilitation expenditures for certified historic structures.

Extends state income tax credit for certified historic structure rehabilitation through 2032 and increases annual credit limits.

This bill extends the state income tax credit for substantial rehabilitation of certified historic structures through tax year 2032. It increases the annual limit on credits, provides certain definitions, and increases the credit amount for properties located in rural communities. The bill also makes nonsubstantive, technical revisions to update existing code language to current style. The tax credit is equal to a percentage of the qualified rehabilitation expenditures for certified historic structures.