SB 961 - This act modifies the definition of "applicable percentage" for the purpose of determining the value of a historic preservation tax credit by providing that the applicable percentage for the rehabilitation of a property that is a historic school shall be 35%.

Additionally, current law limits the total amount of historic preservation tax credits that may be authorized in a fiscal year, with an exception for projects that receive less than $275,000. This act increases such amount to $495,000.

JOSH NORBERG

Statutes affected:
Introduced (4795S.01): 253.544, 253.545, 253.550, 253.557, 253.559