MS HB1296

Expands eligibility for the historic rehabilitation tax credit by removing the exclusion of single-family dwellings from qualifying properties

Provides a 25% tax credit for rehabilitation costs of certified historic structures, with an alternative rebate option equal to 75% of the credit amount paid as immediate cash through the Department of Revenue

Establishes separate $12 million annual caps for projects with rehabilitation costs of $1,750,000 or more and projects under $1,750,000

Requires phased rehabilitation projects to receive final certification within 60 months of the project start date certified in the first phase

Sets an aggregate cap of $180 million for all tax credits awarded under this program, with the program applying to taxpayers who receive certification before December 31, 2030