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.

SF 170 amends a prior law related to the historic preservation tax credit for individuals and corporations. The bill extends the date for preserving existing rights for these tax credits from January 1, 2023, to July 1, 2023. This means that historic preservation tax credits issued or awarded before July 1, 2023, will not be subject to the reduced refundability changes enacted in 2022. Taxpayers holding these credits will retain their original rights to claim or redeem them, including any carryforward amounts.