Federal Historic Preservation Tax Incentive
The Federal Historic Preservation Tax Incentive offers a 20% tax credit for certified rehabilitation of historic income-producing buildings, overseen by the Connecticut Department of Economic and Community Development.
Funder: Connecticut Department of Economic and Community Development
Due Dates: Rolling (applications accepted year-round)
Funding Amounts: 20% federal tax credit on qualified rehabilitation expenditures; no set minimum or maximum project size; typical project QREs range from under $250,000 to over $25 million.
Summary: Provides a 20% federal tax credit for the rehabilitation of certified historic, income-producing buildings.
Key Information: Prior approval of rehabilitation work is strongly recommended to ensure eligibility.
Description
This program offers a 20% federal income tax credit for the certified rehabilitation of historic, income-producing buildings. Administered in partnership with the Connecticut Department of Economic and Community Development (DECD), the National Park Service (NPS), and the Internal Revenue Service (IRS), the incentive is designed to encourage investment in the preservation and adaptive reuse of historic properties. Eligible projects must meet the Secretary of the Interior’s Standards for Rehabilitation and be certified by the NPS. The Connecticut State Historic Preservation Office (SHPO) conducts the initial review of applications before forwarding them to the NPS for final certification.
