The State’s Fiscal Year 2011 budget, finalized last night, includes an extension for the state historic rehabilitation tax credit. The tax credit, slated to end in December, 2011, is now extended to December, 2017. The language was included in Section 45 of the budget as follows:
 

SECTION 48. Section 38R of chapter 63 of the General Laws, as appearing in the 2008 Official Edition, is hereby amended by striking out, in lines 35 and 36, the words —6 year period beginning January 1, 2006, and ending December 31, 2011 and inserting in place thereof the following words:- 12-year period beginning January 1, 2006, and ending December 31, 2017.

The FY 2011 budget now goes to Governor Patrick, who has 10 days for review.  Preservation Massachusetts, along with our legislative consultant Paul Pezzella and Legislative Committee, will continue to closely monitor the budget to ensure the credits extension remains in place.  Thanks to all who aided Preservation Massachusetts’ effort by contacting legislators and sending letters to the Joint Budget Conference Committee.  Be sure to check back for more updates in the coming days.

Related posts:

1. Act Now to Help Extend our State Historic Tax Credit Program!
2. Roger Williams University to offer HP Masters Program

Tags: Historic Preservation, Historic Tax Credit, Legislation, Massachusetts, Sunset Extension
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