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Bill > H2412


MA H2412

To promote development through the historic rehabilitation tax credits


summary

Introduced
01/22/2019
In Committee
01/22/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation to promote development through the historic rehabilitation tax credits. Revenue.

AI Summary

This bill aims to promote development through historic rehabilitation tax credits. It does so by amending existing laws in two key ways: 1) It expands the types of historic property rehabilitations eligible for the tax credits to include those "consistent with standards established by the Massachusetts historical commission designed to promote the rehabilitation of historic properties for mixed commercial and residential uses." 2) It increases the annual cap on the total amount of tax credits that can be issued from $50 million to $75 million. These changes are intended to encourage more historic property rehabilitation projects that incorporate both commercial and residential uses, in line with the state's development goals.

Committee Categories

Budget and Finance

Sponsors (3)

Last Action

Accompanied a study order, see H5040 (on 10/15/2020)

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