Bill > H3306

This bill aims to promote the development and rehabilitation of historic properties through the historic rehabilitation tax credit. The key provisions of the bill are: 1. It expands the eligible criteria for the historic rehabilitation tax credit to include properties that are consistent with standards established by the Massachusetts Historical Commission to promote the rehabilitation of historic properties for mixed commercial and residential uses. 2. It increases the annual cap on the historic rehabilitation tax credit from $50 million to $75 million. 3. It removes the requirement that the tax credit be limited to a percentage not exceeding 20 percent, making the tax credit a flat 20 percent of the qualified rehabilitation expenditures. These changes are intended to encourage the rehabilitation and preservation of historic buildings, particularly for mixed-use developments that combine commercial and residential spaces.

Budget and Finance

https://malegislature.gov/Bills/190/H3306