05.29.12 The Senate Finance committee gave this bill a favorable report with amendments. The amendment caps the credit at $400,000, includes commercial and business property only and lowers the threshold of expenditures to $250,000.
03.26.12 The House Ways and Means committee gave this bill a favorable report.
03.21.12 The House Ways and Means General Government, Personnel and Benefits subcommittee gave this bill a favorable report.
Summary of the bill as introduced: Allows a taxpayer making investments of at least $500,000 in rehabilitation of an abandoned building may, at his option, receive specified income tax credits or credits against the property tax liability.