| SB 0639 | Limits the amount and the applicability of the historic preservation tax credit |
| Sponsor: | Foster | |||
| LR Number: | 2025S.01I | Fiscal Note: | 2025-01 | |
| Committee: | Ways and Means | |||
| Last Action: | 04/01/03 - Hearing Conducted S Ways and Means Committee | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 2003 | |||
SB 639 - This act amends the present historic preservation tax credit to remove property used for residential purposes from the definition of an "eligible property". The act also limits the amount of the credit to twenty percent of the total costs and expenses of rehabilitation, down from twenty-five percent.
The provisions of the act are prospective and will not
adversely affect any credits already issued by the Department of
Economic Development.
JEFF CRAVER