Bill > H2723

This bill establishes a historic building fire prevention tax credit. It allows a person, firm, partnership, or other entity subject to state income tax to claim a credit equal to 50% of the costs incurred for installing a fire protection sprinkler system in a qualified historic structure, up to a maximum of $10,000 per taxpayer per fiscal year. The Massachusetts Fire Prevention Regulations Board will determine the eligibility criteria for the credit, which can be claimed until 2031. The credit can be applied against the taxpayer's tax liability, and any excess credit can be carried forward for up to 5 years.

Budget and Finance

https://malegislature.gov/Bills/193/H2723