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2018 Regular Session



Heritage Structure Rehabilitation Tax Credit - Commercial Rehabilitations - Transferability and Affordable Housing

Sponsored by:

Senator Ferguson


In the Senate - Second Reading Passed with Amendments

Synopsis:Making the State income tax credit under the heritage structure rehabilitation tax credit program transferable and refundable under certain circumstances; authorizing an additional 5% tax credit for certain expenditures under the program for certain commercial rehabilitations that qualify as affordable housing; repealing a requirement that rehabilitation of certain structures be treated as a single commercial rehabilitation under the program; applying the Act to taxable years beginning after December 31, 2017; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Senators Ferguson, Eckardt, Madaleno, Middleton, Young, McFadden, and Muse
Additional Facts:Cross-filed with: HB1454
Bill File Type: Regular
Effective Date(s): July 1, 2018
Budget and Taxation  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Commercial Rehabilitation -see also- Urban Renewal
Housing -see also- Apartments; Condos; Mobile & Manuf Homes
Income Tax
Tax Credits
Statutes:Article - State Finance and Procurement

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions

March 16, 2018 6:04 P.M.