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2019 Senate Bill 54: Give some developers tax breaks for rehabbing “historic” structures
Introduced by Sen. Wayne Schmidt (R) on January 23, 2019
To grant certain developers approved by state or local officials credits against the business income tax that are worth up to 25 percent of the amount spent to restore a structure that meets various criteria for being “historic.” Up to 90 percent of a credit valued below $250,000 would be "refundable," making these virtual cash subsidies. Developers could also "carry forward" any unused credit amount for up to 10 years.   Official Text and Analysis.
Referred to the Senate Finance Committee on January 23, 2019