Indiana Administrative Code
Title 312 - NATURAL RESOURCES COMMISSION
Article 23 - STATE HISTORIC REHABILITATION TAX CREDIT
Rule 3 - Certification by Division of Historic Preservation and Archeology
Section 3-3 - Preservation or rehabilitation plan
Current through March 20, 2024
Authority: IC 6-3.1-16-15; IC 14-10-2-4; IC 14-21-1-31
Affected: IC 6-3.1-16; IC 14-21-1
Sec. 3.
(a) To qualify for the state historic rehabilitation tax credit, an applicant must submit to the division a preservation or rehabilitation plan before beginning preservation or rehabilitation work on the historic property.
(b) Before approving a plan submitted under subsection (a), the division must determine the plan complies with each of the following:
(c) Application for the state credit must be made on a federal tax credit certification application form under the Tax Reform Act of 1986 ( P.L. 99-514 ) and must be accompanied by a supplemental state form approved by the division.
(d) Following a review of the preservation or rehabilitation plan, the division shall make a determination to approve the plan, approve the plan with conditions, or reject the plan. A determination under this subsection is subject to review under 312 IAC 23-1-2.
(e) After the completion of a preservation or rehabilitation project approved under subsection (d), the applicant must seek certification by the division that the project was performed according to the plan and this article. The applicant must include documentation to establish that the project was completed within the following periods:
(f) The division shall grant a certification sought under subsection (e) if the project complies with the terms and conditions of the plan. Subject to section 4 of this rule, the grant of a certification under this subsection qualifies the applicant to seek the state historic rehabilitation tax credit from the revenue department. A determination under this subsection to grant or deny certification is subject to review under 312 IAC 23-1-2.