California State Historic Tax Credit
Historic Tax Credit Legislation Signed into Law!
Governor Gavin Newsom signed SB451, the state historic tax credit bill, into law on October 9, 2019. Senate President pro Tempore Toni Atkins authored the bill with sponsorship from the California Preservation Foundation and the AIA California Council. California joins more than 35 states that have passed historic tax credit bills, providing incentives for investment in local economies and the rehabilitation of historic buildings that reflect the character of communities.
The California Tax Credit Allocation Committee (CTCAC) and the Office of Historic Preservation (OHP) will administer the tax credit program. Coordinated and complementary regulations will be created by each entity, with the OHP responsible for preparing requirements and an application process to guide the program.
This program is contingent upon funding in the annual budget. Absent allocation in the current budget, promulgation of regulations will commence in the Spring of 2021 with a target completion in the Fall of 2021.
It is anticipated that further information will be available in the Spring of 2021 as regulations are developed for the program. Updates on the program's progress will be posted to this page, and sent out via our email list (subscribe to list).