CT SB01023

Transfers administration of historic preservation tax credit programs from the Connecticut Commission on Culture and Tourism to the Department of Economic and Community Development, effective July 1, 2011.

Expands the definition of eligible structures under the residential tax credit (section 10-416a) to include vacant federal, state, or municipal-owned properties that previously served a governmental purpose.

Modifies the mixed-use tax credit program (section 10-416b) to increase the credit from 25% to 30% of qualified rehabilitation expenditures for projects that include affordable housing units meeting specified thresholds.

Removes the previous requirement that mixed-use projects dedicate at least 33% of square footage to residential use, allowing projects with nonresidential uses only to qualify for credits.

Prohibits taxpayers from claiming credits under both section 10-416a and section 10-416b for the same project; allows phase-by-phase development and credit issuance as portions are completed and placed in service.