California Revenue and Taxation Code

§ 23691

RTC § 23691 Effective Oct 1, 2025Div. 2 · Part 11 · Ch. 3.5

Statute text

For each taxable year beginning on or after January 1, 2021, and before January 1, 2027, there shall be allowed to a taxpayer that receives a tax credit allocation a credit against the “tax,” as defined in Section 23036, in an amount determined in accordance with Section 47 of the Internal Revenue Code, except as otherwise provided in this section.

(a)(1) In lieu of the amount of credit computed pursuant to Section 47(a) of the Internal Revenue Code, except as provided in paragraph (2), the amount of credit for the taxable year shall be 20 percent of the qualified rehabilitation expenditures with respect to a certified historic structure.

(2)The applicable percentage shall be 25 percent of the qualified rehabilitation expenditures with respect to a certified historic structure if that certified historic structure meets one of the following criteria:

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Legislative history

Amended by Stats. 2025, Ch. 231, Sec. 84. (SB 711) Effective October 1, 2025. Repealed as of December 1, 2027, by its own provisions.