Pennsylvania SB1356 increases the cap on tax credit certificates for historic preservation from $500,000 to $1,500,000 per fiscal year.

Pennsylvania SB1356 amends the historic preservation incentive tax credit to raise the maximum tax credit certificates a qualified taxpayer can receive from $500,000 to $1,500,000 annually. This change aims to provide greater financial support for historic preservation projects. The Department of Community and Economic Development will manage the distribution of these certificates, ensuring compliance with the new cap. This bill affects entities involved in historic preservation, potentially increasing their access to financial incentives.

Pennsylvania SB1356 increases the cap on tax credit certificates for historic preservation from $500,000 to $1,500,000 per fiscal year.

Pennsylvania SB1356 amends the historic preservation incentive tax credit to raise the maximum tax credit certificates a qualified taxpayer can receive from $500,000 to $1,500,000 annually. This change aims to provide greater financial support for historic preservation projects. The Department of Community and Economic Development will manage the distribution of these certificates, ensuring compliance with the new cap. This bill affects entities involved in historic preservation, potentially increasing their access to financial incentives.