WV HB4802

Tax credit for rehabilitating certified historic structures equals 25% of qualified rehabilitation expenditures for applications received after December 31, 2017, increased from the previous 10% rate

Tax credits become available in the year the qualified rehabilitated building is "placed-in-service," effective July 1, 2023

Phased rehabilitations are authorized for projects completed after July 1, 2022, allowing owners to claim credits for each completed phase upon receiving a written tax credit certificate

Taxpayers cannot claim the credit if they are delinquent on state taxes, local/municipal taxes, or property taxes on the historic structure

Application fee for tax credits equals 0.5% of the credits requested or $10,000, whichever is less, with fees deposited into a special revenue account for program administration