Sec. 171.905. AMOUNT OF CREDIT; LIMITATIONS. (a) The total amount of the credit under this subchapter 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 Section 171.906, may not exceed the amount of franchise tax due for the report after any other applicable tax credits.
(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.
Added by Acts 2013, 83rd Leg., R.S., Ch. 1232 (H.B. 500), Sec. 14(a), eff. January 1, 2015.
Structure Texas Statutes
Subchapter S. Tax Credit for Certified Rehabilitation of Certified Historic Structures
Section 171.9015. Eligible Costs and Expenses
Section 171.902. Eligibility for Credit
Section 171.903. Qualification
Section 171.904. Certification of Eligibility
Section 171.905. Amount of Credit; Limitations
Section 171.907. Application for Credit