The Delaware Division of Historical and Cultural Affairs has issued the following notice of public comment regarding amendments to the regulations governing the state’s Historic Preservation Tax Credit program. The deadline for submission of comments is July 30, 2014.
Notice of Public Comment: PLEASE TAKE NOTICE, pursuant to 29 Del.C., Ch. 101, the Division of Historical and Cultural Affairs proposes to amend rules and regulations pursuant to its authority under 30 Del.C. §1815(b). The Division will receive and consider all written comments on the proposed rules and regulations related to implementation of amendments to the Historic Preservation Tax Credit Act. Submit comments to Timothy A. Slavin, Director, Division of Historical and Cultural Affairs, 21 The Green, Dover, DE 19901. The final date to submit comments is July 30, 2014.
Amendments to the Regulations Governing the Historic Preservation Tax Credit
The Historic Preservation Tax Credit Act (30 Del.C. Ch. 18, Subch. II) is designed to promote community revitalization and redevelopment through the rehabilitation of historic property by providing tax credits for expenditures made to rehabilitate a certified historic property. It was first enacted by the General Assembly in 2001 and was amended in 2002, 2003, 2004, 2005 and 2010. Program regulations were adopted on July 11, 2002 (6 DE Reg. 108 published 07/01/02), and were amended on July 11, 2004 (8 DE Reg. 194 published on 07/01/04), on Jan. 11, 2005 (8 DE Reg. 1031 published 01/01/05), and on Oct. 11, 2010 (14 DE Reg. 485, published 11/01/10).
The 2014 amendments to the legislation provide for revisions to §1816(a) to set aside a portion of the available tax credits for projects located in Downtown Development Districts. The purpose of the following proposed regulatory amendments is to implement the code changes of 2014 and to clarify or to make minor editorial changes to various sections of the regulations. The proposed amendments address the changes to the way in which credits are awarded under this program in new section 7.9 with an associated definition added to section 3.0. As to the clarification of the regulations, the proposed amendments modify seven sections of the regulations (3.0, 5.8, 7.2, 7.4-7.8 and 11.1) and editorial changes have been made to twelve sections of the regulations (1.0, 3.0, 4.5., 5.8, 6.1-6.5, 7.1, 7.3 and 8.1).
Go to the following for the full text of the 2014 proposed amendments to the regulations governing the Historic Preservation Tax Credit.