NY S06945

Extends the expiration date for historic property rehabilitation tax credits from January 1, 2015 to January 1, 2020 across multiple tax law sections (606, 210, 1456, and 1511)

Maintains 100% credit equal to federal historic structure rehabilitation credits (capped at $5 million) for taxable years 2010-2019

Reduces credit to 30% of federal credits (capped at $100,000) for taxable years beginning January 1, 2020 and beyond

Extends the maximum per-residence credit for historic home rehabilitation from $50,000 to $25,000 for taxable years 2020 and beyond, while maintaining $50,000 limit through 2019

Takes effect immediately upon enactment