Federal Historic Preservation Tax Incentive

$136,816 committed in FY2018–FY2021

Agency: National Park Service, Interior, Department of the
Assistance: Advisory Services and Counseling
CFDA number: 15.961
What it does: Commonly known as the Rehabilitation Tax Credit or the Historic Tax Credit, the program provides a 20-percent federal tax credit to property owners who undertake a substantial rehabilitation of a historic building in a business or income-producing use while maintaining its historic character. The credit promotes historic preservation and community revitalization through the private investment in the rehabilitation of historic buildings.
Who benefits: For the rehabilitation tax credit: private owners of historic buildings held for investment purposes. For the income tax deduction for the donation of conservation easements: private owners of buildings.
Who applies: For the rehabilitation tax credit: private owners of commercial and other income-producing historic buildings held for investment purposes. For the conservation easement deduction; private owners of historic buildings proposed as the subject of charitable easement donations.
Authorized by: Internal Revenue Code of 1986, 26 U.S. Code 47 and 170(h), as amended; Public Law No: 115-97, 131 Stat. 2054, Sec. 13402 (December 22, 2017); 54 U.S.C. Â§ 101702(a) Transfer of Service Appropriated Funds
Program site: https://www.nps.gov/tps/tax-incentives.htm ↗

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Direct payments

Federal Historic Preservation Tax Incentive

$136,816 committed in FY2018–FY2021

Agency: National Park Service, Interior, Department of the
Assistance: Advisory Services and Counseling
CFDA number: 15.961
What it does: Commonly known as the Rehabilitation Tax Credit or the Historic Tax Credit, the program provides a 20-percent federal tax credit to property owners who undertake a substantial rehabilitation of a historic building in a business or income-producing use while maintaining its historic character. The credit promotes historic preservation and community revitalization through the private investment in the rehabilitation of historic buildings.
Who benefits: For the rehabilitation tax credit: private owners of historic buildings held for investment purposes. For the income tax deduction for the donation of conservation easements: private owners of buildings.
Who applies: For the rehabilitation tax credit: private owners of commercial and other income-producing historic buildings held for investment purposes. For the conservation easement deduction; private owners of historic buildings proposed as the subject of charitable easement donations.
Authorized by: Internal Revenue Code of 1986, 26 U.S. Code 47 and 170(h), as amended; Public Law No: 115-97, 131 Stat. 2054, Sec. 13402 (December 22, 2017); 54 U.S.C. Â§ 101702(a) Transfer of Service Appropriated Funds
Program site: https://www.nps.gov/tps/tax-incentives.htm ↗