Relating to credit for qualified rehabilitated buildings investment

HB 3457 increases tax credits for property owners rehabilitating certified historic buildings in West Virginia from 10% to 25% of eligible costs for projects starting after December 2017. It allows owners to claim credits incrementally as each phase of a renovation is completed (rather than waiting for the full project), provided they submit final certification within 60 months. To qualify, owners must not be behind on state, local, or property taxes and must have the building designated as historic by the National Park Service. The credit applies to both residential and commercial properties meeting federal historic preservation standards.