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Kentucky Legislation Would Allow Taxpayers to Carry Forward Transferred State HTC

Wednesday, February 28, 2024 - 10:38AM

A bill introduced in the Kentucky House of Representatives would allow the recipient of a transferred state historic tax credit (HTC) to carry the excess credit forward seven years. H.B. 699 would allow a taxpayer to either receive a refund or carry forward the excess for HTC applications received after April 30, 2023. Current regulations allow only the refund.

The Novogradac Introduction to Historic Tax Credits booklet provides a look at the basics of the HTC incentive, both on the federal and state levels.

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