Committee Concerned About Cost of Historic Tax Credits
Tuesday, March 24th, 2015
Questions raised Monday by the Senate Finance Committee about costs delayed a vote on legislation that would enhance tax credits for developers who renovate historic buildings.
Committee members were chiefly concerned about how much tax revenue the state would be giving up by allowing developers to sell credits they can’t use. Current law only allows the actual developer to apply the credits against income tax owed to the state.
