Learn about tax incentives that reward private investment in the rehabilitation of historic properties.
Legislation passed during the 2019 Minnesota legislative session amends the state tax code to conform with federal tax code changes made on December 23rd, 2017 (Minnesota Session Law 2019, 1st Special Session, Chapter 6). One of the programs impacted by these changes is M.S. 290.0681, the Minnesota Historic Structure Rehabilitation State Tax Credit (Historic State Tax Credit). The primary changes to the Minnesota Historic State Tax Credit is that the credits must now be claimed over a 5-year period, rather than as a single pay-out.Review the amended language here . Projects should contact their tax professional to discuss how this specifically affects their project.