SC H5252

Amends the definition of "abandoned building" to require 66% of space be "unoccupied" rather than "closed to business" for five years, removing the requirement that the building previously had an income-producing use

Changes timing requirements so taxpayers must file a Notice of Intent to Rehabilitate before obtaining a building permit, rather than before incurring rehabilitation expenses

Prohibits abandoned building tax credits from being pledged, assigned, or used as collateral for any debt

Removes the separate definition and certification process for "state-owned abandoned buildings," eliminating special provisions for buildings previously owned by the state or its agencies

Allows credit transfers to purchasers or transferees (not just lessees) when a building site is sold or otherwise transferred