H949 - Rehabilitation Tax Incentive Summary

• Extends the historic rehabilitation tax credits investment program by three years, moving certificate of occupancy deadline from December 31, 2021 to December 31, 2023 for eligible railroad stations

• Modifies eligible railroad station designation deadline from June 30, 2019 to September 1, 2020 for cities to certify local landmarks

• Extends eligibility certification expiration date from January 1, 2023 to January 1, 2025 for all rehabilitation projects under the program

• Allows qualified rehabilitation expenditures to be incurred on or after January 1, 2019 and before January 1, 2024 (extended from 2022), with projects required to be completed by January 1, 2025 (extended from 2022)

• Extends sunset date for general rehabilitation tax credit provisions from January 1, 2024 to January 1, 2027, with property placement in service deadline extended to January 1, 2035 (from 2032)