Current through Reg. 49, No. 38; September 20, 2024
(a) Projects seeking federal and state
credits. Projects seeking certification for both the federal rehabilitation tax
credit and the Texas Historic Preservation Tax Credit must meet eligibility
requirements for each program separately.
(1)
Applicants for both programs shall submit the first page of the Part A, B, and
C application forms, accompanied by the Part 1, 2, and 3 application forms for
the federal rehabilitation tax credit program, respectively.
(2) A project , or any part or phase of a
project, also submitted for the federal rehabilitation tax credit will be
reviewed and approved or rejected by the National Park Service before the
Commission issues its determinations under this chapter. Official written
determinations from the National Park Service, including Advisory
Determinations on phased work, may meet this qualification. The Commission will
consider National Park Service decisions in rendering its determinations. A
project that receives certification for the purposes of the federal
rehabilitation tax credit will receive a certification of eligibility pursuant
to the Texas Historic Preservation Tax Credit, provided that the building is a
certified historic structure at the time the credit is taken.
(3) Applicants may subdivide a phased project
submitted for the federal rehabilitation tax credit program into a series of
smaller projects submitted for the state program. These smaller projects must
be described in the application for the federal credit at the outset of the
project, and must correlate to individual phases of the federal phased project.
Each project corresponding to a phase of the federal tax credit project may be
submitted for the state credit when that phase of work is placed in service.
Official determinations from the National Park Service must still be received
for each phase of work submitted for the federal program before the Commission
issues its determination on each corresponding smaller project submitted for
the state program.
(4) The review
fees required per §
RSA 13.6
of this title, Application Review Process, must be paid before the Commission
will issue any determinations or certifications pursuant to the Texas Historic
Preservation Tax Credit, even if the project has previously received
certification by the National Park Service for the federal rehabilitation tax
credit.
(b) Projects
seeking state credit exclusively. If the applicant is eligible to claim a state
credit exclusively, then the application forms for the Texas Historic
Preservation Tax Credit provided by Commission shall be used. Determinations by
the Commission that a project includes a certified historic structure and/or a
certified rehabilitation apply only to the Texas Historic Preservation Tax
Credit Program and are not binding on any other local or federal tax credit
program.
