Bill > H2835

This bill aims to promote development through the historic rehabilitation tax credit program. The key provisions of the bill include: 1. Allowing the historic rehabilitation tax credit program to be used for the rehabilitation of historic properties for mixed commercial and residential uses, in addition to the existing use for commercial properties. 2. Increasing the annual cap on the historic rehabilitation tax credit program from $55 million to $75 million. 3. Removing the language limiting the tax credit to a percentage not exceeding 20 percent, effectively setting the tax credit at a flat 20 percent. These changes are intended to expand the availability and use of the historic rehabilitation tax credit program, which provides a financial incentive for the preservation and redevelopment of historic buildings in Massachusetts.

Budget and Finance

https://malegislature.gov/Bills/192/H2835