| Item | Description | FY2010 | FY2011 | FY2012 |
|---|---|---|---|---|
| 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 business filers claims, item 2.610) Chapter 131 of the Acts of 2010 extended the availability of the credit for an additional to December 31, 2017, with an annual cap of $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 |
2.5 | 2.5 | 2.5 |
| 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. |