Historic Rehabilitation Tax Credit

Conn. Gen. Stat. § 10-416c

Establishes a Connecticut state tax credit for the certified rehabilitation of certified historic structures — properties listed individually on, or contributing to a district listed on, the National or State Register of Historic Places. The Department of Economic and Community Development (DECD) administers a system of tax credit vouchers, while the State Historic Preservation Officer certifies that the rehabilitation conforms to the Secretary of the Interior's Standards for Rehabilitation. Eligible "certified rehabilitation" must result in residential use of five units or more, mixed residential and nonresidential uses, or nonresidential use consistent with the property's historic character; the credit equals 25% of qualified rehabilitation expenditures (30% for projects in a federally designated opportunity zone or with a qualifying affordable-housing component), capped at $4.5 million per project and $31.7 million in aggregate reservations per fiscal year.