Pennsylvania SB1307 establishes a tax credit for the restoration and continued use of historic barns.
Pennsylvania SB1307 creates the Historic Barn Preservation Tax Credit to encourage the restoration and continued use of historic barns. The tax credit is administered by the Department of Community and Economic Development. It can be up to 25% of the total rehabilitation or restoration costs, or $100,000, whichever is less. The credit is available on a first-come, first-served basis, with a maximum of $10,000,000 awarded per fiscal year. The credit can be carried over to succeeding taxable years but cannot be sold or assigned. The tax credit expires on December 31, 2036.
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