Tuesday, Jun. 04, 2013
The Alabama Legislature created a Historic Tax Credit program mirroring the successful Federal Historic Tax Credit program. The bill allows a tax credit against one's tax liability for the rehabilitation and development of certain historic structures. The tax credit is generally equal to 25% of the Qualified Rehabilitation Expenditures (QREs)for certain historic structures, and 10% of the QREs for pre-1936, non-historic structures. The bill as signed by Governor Bentley is available to review.