Expands the definition of qualified historic homes for tax credit eligibility to include certain properties in cities with over one million residents.

The bill amends the tax law to expand the definition of a qualified historic home for the historic homeownership rehabilitation credit. It includes certain properties located in cities with a population of one million or more, provided they meet specific criteria. This change aims to make more historic properties eligible for the tax credit, potentially benefiting more homeowners in large cities. The amendment takes effect immediately and applies to tax years beginning on and after January 1, 2026.

Expands the definition of qualified historic homes for tax credit eligibility to include certain properties in cities with over one million residents.

The bill amends the tax law to expand the definition of a qualified historic home for the historic homeownership rehabilitation credit. It includes certain properties located in cities with a population of one million or more, provided they meet specific criteria. This change aims to make more historic properties eligible for the tax credit, potentially benefiting more homeowners in large cities. The amendment takes effect immediately and applies to tax years beginning on and after January 1, 2026.