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Historic Tax Credits

The federal Historic Tax Credit (HTC) Program supports community revitalization efforts by encouraging the flow of private funds into the rehabilitation of historic buildings. Under the program, owners of historic properties partially finance the costs of rehabilitation and restoration of certified historic properties by "selling" the credits to third parties, which may include national banks. The National Park Service within the U.S. Department of the Interior and the Internal Revenue Service jointly administer the Historic Tax Credit Program in partnership with State Historic Preservation Offices.

OCC Resources

"Historic Tax Credits: Bringing New Life to Older Communities," Community Developments Insights, November 2008. This edition of Community Developments Insights describes how the Historic Tax Credit operates, outlines the risks and regulatory considerations of participation in the program, and discusses how the purchase of these credits by national banks may be considered under the Community Reinvestment Act (CRA).

"Historic Tax Credits," (PDF) Community Developments Fact Sheet.

Federal Resources

National Park Service

U.S. Department of the Interior, National Park Service (NPS) –  The National Park Service (NPS) administers the Historic Tax Credit program jointly with the Internal Revenue Service (IRS) and in partnership with State Historic Preservation Offices (SHPOs).  They offer a wealth of resources including:

U.S. Department of Treasury, Internal Revenue Service (IRS)

  • Rev. Proc. 2014-12 This revenue procedure establishes the requirements (the safe harbor) under which the Internal Revenue Service will not challenge partnership allocations of Section 47 rehabilitation credits by a partnership to its partners.
  • Rehabilitation Tax Credit Tips Tax credit information for the rehabilitation of certified historic structures and buildings placed in service before 1936.
  • Tax Aspects of Historic Preservation (PDF) - Frequently asked questions. (October 2000)

Industry Organizations and Professional Associations

National Trust for Historic Preservation The National Trust for Historic Preservation is a private, nonprofit membership organization dedicated to saving historic places and revitalizing America's communities by providing industry leadership, education, advocacy, and resources.

National Trust Community Investment Corporation (NTCIC) - The National Trust Community Investment Corporation (NTCIC) makes equity investments in real estate projects that qualify for federal historic tax credits and other tax credit transactions. 

Novogradac Historic Tax Credit Resource Center - The resource center offers information on IRS rulings, legislation, studies and reports, and breaking news on Historic Tax Credits.

National Conference of State Historic Preservation Officers (NCSHPO) - The National Conference of State Historic Preservation Officers (NCSHPO) is the professional association of the State government officials who carry out the national historic preservation program as delegates of the Secretary of the Interior pursuant to the National Historic Preservation Act of 1966, as amended (NHPA) (16 USC 470). The NHPA provides for the designation of a State Historic Preservation Officer (SHPO) in each state.

National Housing & Rehabilitation Association (NH&RA) - The National Housing & Rehabilitation Association (NH&RA) is an association for professions in the historic rehabilitation, affordable housing, new markets, and renewable energy tax credit programs. In addition, the association produces two publications for organizations interested in financing tax credit projects.