Bill > S00293

This bill expands the definition of a "qualified historic home" for the purposes of the historic homeownership rehabilitation credit to include properties located in a city with a population greater than one million, in a qualifying census tract as of January 1, 2017, and owned by the applicant on January 1, 2010. This change will allow more homeowners in large cities to claim the historic homeownership rehabilitation credit, which provides tax incentives for the rehabilitation of historic homes. The bill takes effect immediately and applies to taxable years beginning on or after January 1, 2023.