Introduced
To expand the “assignability” of business tax credits granted for the rehabilitation of a “historic resource” (usually a commercial structure). Also, to authorize an expedited review process for these tax breaks for applicants willing to pay extra for that; and require that the historical resource is subject to a historical preservation easement, which restricts future changes or development on the site. “Assignability” means that the recipient of a business tax credit can sell all or a portion of the credit to another person, who can use it to reduce his own business or income tax.
Referred to the Committee on Finance
