State historic tax credit programs

Nebraska Historic Tax Incentive Program

Program overview:

The Nebraska Historic Tax Incentive Program offers a 20 percent credit against income, deposit, or premium tax for rehabilitation of historically significant real property except for a single-family residence.

Annual cap: $15 million.

Project cap: $1 million.

Program details:

  • $4 million set aside for projects seeking less than $100,000 in credits.
  • Carry forward: 5 years.
  • Recapture: same as federal.
  • Sunset date: Dec. 31, 2022.
  • The application shall include plans and specifications, an estimate of the cost of the project prepared by a licensed architect, licensed engineer or licensed contractor and a request for a specific amount of credits based on such estimate. The officer shall review the application and, within 21 days after receiving the application, shall determine whether the information contained therein is complete. The officer shall notify the applicant in writing of the determination within five business days after making the determination.
  • NHTC Part 2 applications must be approved before work begins.

Who can use the credit?

Important links:

MHA Chicago
Office
Chicago, IL

311 South Wacker Drive
Suite 4800
Chicago, IL 60606

(312) 786 1700 Contact our office