MA H3036

Creates a tax credit covering 50% of costs to install fire protection sprinkler systems in qualified historic structures, with a maximum credit of $10,000 per taxpayer per fiscal year

Applies to persons, firms, partnerships, trusts, estates, LLCs, and other entities subject to Massachusetts income tax under Chapter 62 or Chapter 63

Massachusetts Fire Prevention Regulations Board will establish eligibility criteria through regulations

Credit available for any taxable year until 2035 and cannot reduce tax liability below $0

Unused credit amounts may be carried forward and applied against tax liability for up to 5 succeeding taxable years