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Home > Restoration Help > Funding Directory > Tax Incentive or Tax Credit >
Connecticut Historic Structures Rehabilitation Tax Credit Program
Public Act 06-186 section 82 establishes a tax credit for the conversion of historic commercial and industrial buildings to residential use, including rental or condominium units. Partial tax credits are available for buildings converted to mixed residential and commercial uses.
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25% tax credit of the total qualified rehabilitation expenditures
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buildings must be listed on the National or State Register of Historic Places, either individually or as part of an historic district
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projects under construction but not placed in service as of July 1, 2006, may qualify
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state tax credits may be combined with the 20% federal historic preservation tax credits provided the project qualifies under federal law as a substantial rehabilitation of depreciable property as defined by the Internal Revenue Service
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annual aggregate cap of $15 million in tax credit reservations
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per building cap is up to $2.7 million in tax credits
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tax credit vouchers are issued after completion of rehabilitation work or, in phased projects, completion of rehabilitation work to an identifiable portion of the building placed in residential use
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tax credits are available for the tax year in which the building or, in phased projects, an
identifiable portion of the building is placed in service
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tax credits can only be used by C corporations with tax liability under Chapters 207 through 212 of the Connecticut General Statutes
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tax credits can be assigned, transferred or conveyed in whole or in part by the owner to others
For further information and how to apply please visit the link below-the History Division of the Connecticut Commission on Culture and Tourism.
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