This week the California State Park's Office of Historic Preservation announced they would officially start accepting applications for the state's historic tax credit program on Jan. 6th. This marks the start of the credit that was signed into law in 2019. The program provides a 20% tax credit for qualified rehabilitation expenses (or 25% credit if the structure meets specified criteria). Property owners can apply for the credit to rehabilitate or maintain their historic buildings or qualified residences.

The program will be available on first-come-first-served basis, is capped at $50 million annually, and is available for tax years beginning on or after Jan. 1, 2021. The Office of Historic Preservation is holding two virtual informational sessions in the coming weeks. 

More information about the credit and qualifications is available online.