Bill
A 5453
Bill Summary: A 5453 - Extends Historic Homeownership Rehabilitation Tax Credit Main PurposeThe primary intent of this bill is to extend the existing historic homeownership rehabil
The primary intent of this bill is to extend the existing historic homeownership rehabilitation tax credit program in the state, which provides tax incentives for the restoration and preservation of historic homes. The bill also introduces new reporting requirements to improve transparency around the use and impacts of the tax credit.
Tax Credit Extension: The bill extends the historic homeownership rehabilitation tax credit program for an additional 10 years, from its current expiration date of December 31, 2027 to December 31, 2037.
Increased Credit Amounts: The bill increases the maximum allowable tax credit from 30% to 35% of qualified rehabilitation expenditures for owner-occupied historic homes.
Expanded Eligibility: The bill expands eligibility for the tax credit to include historic homes that are non-owner occupied, provided they are rented to low- or moderate-income households.
Reporting Requirements: The bill mandates that the state housing finance agency publish annual reports on the use of the historic homeownership rehabilitation tax credit. This includes data on the number of credits claimed, total dollar amounts, location of projects, and the economic and community impacts.
The primary beneficiaries of this bill would be owners of historic homes who undertake eligible rehabilitation projects, as well as low- and moderate-income households who rent historic homes that are restored. The state housing finance agency would also be impacted through the new reporting requirements.
This bill (A 5453) was introduced in the state legislature on March 17, 2025 and has been referred to the Ways and Means Committee for consideration. It has companion bills in the state Senate (S 1776 and S 4057) that are also under review.
If enacted, the historic homeownership rehabilitation tax credit program would be extended for an additional 10 years, beginning on January 1, 2028 and running through December 31, 2037. The new reporting requirements would take effect immediately upon the bill becoming law.
Compiled from official sources — confirm details with the bill’s official record.
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