1.610 -Historic Buildings Rehabilitation Credit

Item	Description	FY2008	FY2009	FY2010
1.610	Historic Buildings Rehabilitation Credit If a structure is listed on the National Historic Register and has been substantially rehabilitated in keeping with its historical character, it may qualify for this credit. To qualify, the project must be certified by the Massachusetts Historical Commission, which determines the amount of qualifying expenditures. Filers may claim up to 20% of their qualified rehabilitation expenditures. Credits may be carried forward for up to 5 years. The expenditure for this item (combined with the Historic Rehabilitation Credit for all business filers, item 2.610) was originally capped at $15 million per year, with a start date for the credit of January 1, 2005 and an end date of December 31, 2009. Chapter 123 of the Acts of 2006 extended the availability of the credit for an additional two years, to December 31, 2011, and increased the annual $15 million cap amount to $50 million. The credits may be sold or transferred to another taxpayer. Origin: M.G.L. c. 62, S. 6 J, Chapter 464 of the Acts of 2004, St. 2006, c. 123, S. 51 and 65 Estimate: $2.5	1.5	2.5	2.5

Key:

ORIGIN
IRC	Federal Internal Revenue Code (26 U.S.C.)
U.S.C	United States Code
M.G.L.	Massachusetts General Laws
Rev. Rul.; C.B.	Revenue Ruling; Cumulative Bulletin of the U.S. Treasury
ESTIMATES	All estimates are in $ millions.