AN ACT CONCERNING THE HISTORIC HOMES REHABILITATION TAX CREDIT.

HB 5190 updates Connecticut's historic home rehabilitation tax credit program to provide a 30% tax credit for owners who renovate eligible historic buildings. To qualify, the home must be listed on the National or State Register of Historic Places, and the owner must spend at least $15,000 on approved construction costs while pledging to live there as their primary residence for five years. The Department of Economic and Community Development will administer the program by reviewing renovation plans before work begins and issuing vouchers based on verified expenses after completion. This bill replaces the previous version of the law and will take effect on January 1, 2025.