SECTION 15.5. Federal Tax Incentives

(a) Eligibility. The certified rehabilitation of a certified historic structure may qualify for a rehabilitation credit on federal income taxes as provided for in the Internal Revenue Code, 26 United States Code§§47, 48(g) and 170(h); applicable Internal Revenue Service regulations including 26 Code of Federal Regulations §1.48-12; and National Park Service regulations including 36 Code of Federal Regulations Part 67.

(b) Applications. Pursuant to 36 Code of Federal Regulations §67.1(c), the Texas Historical Commission, as the State Historic Preservation Office, participates in the review of request for certification. Two copies of the Historic Preservation Certification Application must be submitted to the Texas Historical Commission for review. Within 30 days of receipt of a complete, adequately documented application, the commission forwards one copy of the application and the commission's recommendations to the U.S. Department of the Interior for a final certification decision. The Texas Historical Commission provides technical consultation during planning and implementation of project work.

Source Note: The provisions of this §15.5 adopted to be effective December 31, 1984, 9 TexReg 6315; amended to be effective September 8, 2013, 38 TexReg 5710