Texas Tax Code 172.106 – Amount of Credit; Limitations
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(a) The total amount of the credit under this chapter with respect to the rehabilitation of a single certified historic structure that may be claimed may not exceed 25 percent of the total eligible costs and expenses incurred in the certified rehabilitation of the certified historic structure.
(b) The total credit claimed for a report, including the amount of any carryforward under § 172.107, may not exceed the amount of franchise tax due for the report after any other applicable tax credits.
Terms Used In Texas Tax Code 172.106
- Certified historic structure: means a property in this state that is:
(A) listed individually in the National Register of Historic Places;
(B) designated as a Recorded Texas Historic Landmark under § 442. See Texas Tax Code 172.101 - Certified rehabilitation: means the rehabilitation of a certified historic structure that the commission has certified as meeting the United States secretary of the interior's Standards for Rehabilitation as defined in 36 C. See Texas Tax Code 172.101
(c) Eligible costs and expenses may only be counted once in determining the amount of the tax credit available, and more than one entity may not claim a credit for the same eligible costs and expenses.