Staff Analysis of the Legislation
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05.14.2014 The House Ways and Means committee gave this bill a favorable report with amendments. The amendments allows property tax credits to be transferred when the property is sold and adds language from H3834, the solar energy tax credit bill.
05.08.2014 The House Ways and Means Sales and Income Tax subcommittee gave this bill a favorable report with an amendment. The amendment opens up the definition of abandoned buildings to include large state owned historic buildings. It further increases the historic preservation tax credit from 10 percent to 24 percent.
02.26.2013 The Senate Finance committee gave this bill a favorable report as amended by the subcommittee.
02.20.2013 The Senate Finance Sales and Income Taxation subcommittee gave this bill a favorable report with an amendment. The amendment strikes all the language in the bill and replaces it with language from H3093, the House version of the bill. The House version includes language requested by the Municipal Association that allows cities to determine the amount of the tax credit based on population.
Summary of the bill as introduced: Allows a taxpayer making investments of a certain size in rehabilitating an abandoned building may receive income tax credits or credits against the property tax liability. |
