HB 1729 Summary

• Increases the maximum aggregate historic rehabilitation tax credit from $120 million to $180 million and extends the deadline for issuing certificates from December 31, 2020 to December 31, 2030, while allowing taxpayers to receive a 75% rebate on total credit amounts instead of only amounts exceeding $250,000.

• Increases the annual aggregate charitable contribution tax credit from $5 million to $10 million for calendar year 2021 and thereafter, with equal allocation between child protection services organizations and job training/educational organizations, and caps individual organization allocations at 25% and 5% respectively.

• Decreases the annual aggregate limit for direct charitable contribution credits from $3 million to $1 million for calendar year 2021 and thereafter, and allows unused 2020 credits to be reallocated under the business enterprise charitable contribution program.

• Extends the adoption tax credit provisions that increase the maximum amount from $2,500 to $5,000 per child and provide credits for adoptions through the Department of Child Protection Services through December 31, 2023.

• Extends broadband technology deployment tax incentives (sales tax exemption, income tax credit, and ad valorem tax exemption) until July 1, 2025, and prohibits credits for equipment funded by CARES Act monies.