Code of Colorado Regulations
1504 - Department of Higher Education
1504 - Historical Society
8 CCR 1504-10 - INCOME TAX CREDIT FOR QUALIFIED COSTS INCURRED IN PRESERVATION OF QUALIFIED RESIDENTIAL STRUCTURES
Section 8 - QUALIFIED REHABILITATION EXPENDITURES

Universal Citation: 8 CO Code Regs 1504-10 ยง 8

Current through Register Vol. 47, No. 5, March 10, 2024

8.1 "Qualified rehabilitation expenditures" are defined as exterior improvements and interior improvements undertaken to restore, rehabilitate, or preserve the historic character of a Qualified Residential Structure that meet the Standards for Rehabilitation of the United States Secretary of the Interior. These standards are contained in federal regulations issued by the National Park Service, Department of the Interior, 36 Code of Federal Regulations §68.3 (current through September 27, 2018). The federal regulations are available to the public for inspection or copying at a reasonable charge at the offices of the Historical Society, 1200 Broadway, Denver, CO 80203. The federal regulations also are publicly available at https://www.nps.gov/tps/standards/rehabilitation.htm. These Rules do not include any later amendments or editions of the federal regulations or guidance.

(a) "exterior improvements" is limited to any one or more of the following: roof replacement or repair; exterior siding replacement or repair; masonry repair, re-pointing, or replacement; window repair or replacement; door repair or replacement; woodwork and trim repair or replacement; foundation repair or replacement; and excavation costs associated with foundation work.

(b) "interior improvements" is limited to one or more of the following: electrical repairs and upgrades; plumbing repairs and upgrades; heating, venting, and air conditioning repairs and upgrades; repair of existing interior walls, ceilings, and finishes; repair or replacement of existing woodwork and trim; insulation; refinishing or replacing historic floor materials in-kind, excluding carpeting.

(c) Reconstructing missing elements when there is sufficient historical documentation to guide the reconstruction is an allowable expenditure.

8.2 Improvements undertaken due to normal wear and tear on a property do not qualify, nor does routine or periodic maintenance, such as cleaning, routine painting, minor repairs, general periodic upkeep, redecorating or any purely cosmetic change that is not part of an overall rehabilitation or that does not enhance the property's historic character.

8.3 Rehabilitation work, on vegetative or hard surface landscaping, is not a qualified cost.

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