2019 Regular Session
|At the request of:|
|Bill Title:||Relating to a tax credit for funding historic property project expense rebates; prescribing an effective date.|
Creates tax credit for certified historic property project contributions.
Directs Department of Revenue, in cooperation with State Historic Preservation Officer, to conduct auction of tax credits. Establishes State Historic Property Project Fund and requires that auction proceeds be deposited in fund for purpose of making rebates to property owners for eligible expenses for rehabilitation and seismic retrofitting of historic properties. Provides for payment of rebates from fund and for administration of rebate program by State Historic Preservation Officer. Limits amount of credits and corresponding rebates to $___ million for any biennium. Applies to applications for rebates submitted after July 1, 2019, for tax years beginning on or after January 1, 2020, and before January 1, 2026. Takes effect on 91st day following adjournment sine die.
|Fiscal Impact:||Fiscal Impact Issued|
|Revenue Impact:||Revenue Impact Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|
|Current Location:||In Senate Committee|
|Current Committee:||Joint Committee On Tax Expenditures|
|Potential Conflicts of Interest/Vote Explanations:||Potential Conflicts of Interest/Vote Explanation Documents|