An Act To Expand The Historic Property Rehabilitation Tax Credit

LD 435 expands Maine's Historic Property Rehabilitation Tax Credit to encourage preservation of historic buildings. It increases the credit rate from 25% to 30% of qualified rehabilitation costs (up to $1 million) for owners of income-producing historic structures or certified historic homes. The bill broadens eligibility to include locally designated landmarks meeting National Register criteria, not just properties listed in the National Register. Property owners must demonstrate compliance with historic preservation standards to claim the credit, and the Maine Historic Preservation Commission must analyze the program's effectiveness every five years.