40-63-06. Historic preservation and renovation tax credit.
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/nd/title-40/chapter-40-63-renaissance-zones/40-63-06·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A credit against state tax liability as determined under sections 57-38-30 and 57-38-30.3 is allowed for investments in the historic preservation or renovation of property within the renaissance zone. The amount of the credit is twenty-five percent of the amount invested, up to a maximum of two hundred fifty thousand dollars. The credit may be claimed in the year in which the preservation or renovation is completed. Any excess credit may be carried forward for a period of up to five taxable years.