Indiana House Bill 1441 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 18 2011 - 25% progression, died in committee
Action: 2011-01-18 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [HTML]

Provides that the historic rehabilitation income tax credit may be assigned. Provides that the credit may be recaptured from the person who receives the certification or from an assignee to whom the property is transferred. Repeals and replaces the current definition of "taxpayer" for purposes of the historic rehabilitation credit. Provides that the transfer of the property as a condominium does not cause the credit to be recaptured. (Current law provides that the credit is recaptured if the property is transferred within five years of the completion of the rehabilitation or preservation.) Provides that the adjusted basis of the property is not reduced by the amount of credit if a person is entitled to a federal low income housing credit for the historic property.

Assignability of historic preservation tax credit.

Rep. Ryan Dvorak [D]

Date	Chamber	Action
2011-01-18		First reading: referred to Committee on Ways and Means
2011-01-18		Authored by Representative Dvorak

Type	Source
Summary	http://www.in.gov/apps/lsa/session/billwatch/billinfo?year=2011&session=1&request=getBill&doctype=HB&docno=1441
Text	http://www.in.gov/legislative/bills/2011/IN/IN1441.1.html