Bill Title: Grants and tax credits for historic preservation. Authorizes the office of community and rural affairs (office) to administer a grant program for the preservation of historic properties. Provides that the income tax credit for the preservation of historic properties applies to the preservation or rehabilitation of historic properties that have been vacant for at least one year. Establishes four new methodologies for determining the amount of the tax credit. Provides that a property's adjusted basis is not reduced by the amount of the credit if a person is entitled to a federal low income housing tax credit. Changes numerous spending

Spectrum: Slight Partisan Bill (Republican 3-1)

Status: (Introduced - Dead) 2015-01-13 - First Reading: referred to Committee on Ways and Means [HB1221 Detail]

Text: Latest bill text (Introduced) [PDF]

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