Hawaii HB1143 establishes a state historic preservation income tax credit for substantial rehabilitation of certified historic structures.

Hawaii HB1143 introduces a historic preservation income tax credit for substantial rehabilitation of certified historic structures. This credit is available to taxpayers and is equal to thirty percent of the qualified rehabilitation expenditures. The credit is subject to specific conditions, including recapture if the rehabilitation does not proceed as planned or if the projected expenditures do not materialize. The state historic preservation division must certify the rehabilitation and issue a certificate to the taxpayer.

Hawaii HB1143 establishes a state historic preservation income tax credit for substantial rehabilitation of certified historic structures.

Hawaii HB1143 introduces a historic preservation income tax credit for substantial rehabilitation of certified historic structures. This credit is available to taxpayers and is equal to thirty percent of the qualified rehabilitation expenditures. The credit is subject to specific conditions, including recapture if the rehabilitation does not proceed as planned or if the projected expenditures do not materialize. The state historic preservation division must certify the rehabilitation and issue a certificate to the taxpayer.