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House Bill 1275


House Bill 1275

ARCHIVE (2012)

Latest Information

 

DIGEST OF INTRODUCED BILL


Historic preservation tax credit. Provides that the historic rehabilitation income tax credit may be assigned. Specifies when the transfer of the property does not subject the credit to recapture. (Current law provides that the credit is recaptured if the property is transferred within five years of the completion of the rehabilitation or preservation.) Provides that the adjusted basis of the property is not reduced by the amount of credit if a person is entitled to a federal low income housing credit for the historic property.
Current Status:
 In Committee - first House
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