IN HB1253

Amends IC 6-3.1-16 to remove the January 1, 2019 expiration date for the historic rehabilitation credit, allowing it to continue indefinitely for taxable years beginning after December 31, 2015.

Maintains the credit amount at 20% of qualified expenditures for preservation or rehabilitation of historic property approved by the office.

Eliminates the prohibition on credits for qualified expenditures made after December 31, 2015, allowing new projects to be eligible for the credit.

Sets the annual state tax credit cap at $450,000 for fiscal years beginning after June 30, 1999, with the office unable to certify expenditures made after June 30, 2016; however, unused credits from pre-July 1, 2016 expenditures may be carried forward.

Takes effect retroactively on January 1, 2016, with an emergency declaration included in the bill.