Relating to: modifications to the historic rehabilitation tax credit. (FE)

SB 382 modifies the state's historic rehabilitation tax credit program. It requires that qualified rehabilitation expenditures for a building must total at least $50,000 over a 24-month period to count toward the credit. The bill also clarifies that state certification by the historic preservation officer is needed if taxpayers do not claim the federal credit for the same rehabilitation work. This directly affects property owners and developers seeking tax credits for rehabilitating historic buildings. The changes standardize eligibility criteria and align with federal definitions for the credit.