A bill for an act relating to the historic preservation tax credit available against the individual and corporate income taxes, the franchise tax, and the insurance premiums tax.

House File 1018 amends a previous law regarding the historic preservation tax credit. This bill extends the period during which existing historic preservation tax credits are protected from changes to their refundability. Specifically, it shifts the cutoff date for preserving existing rights to these tax credits from January 1, 2023, to July 1, 2023. This means that taxpayers who were issued, awarded, or allowed historic preservation tax credits prior to July 1, 2023, will have their rights to those credits, including any carryforward amounts, protected from certain reductions in refundability.