The Preservation of Commercial Historic Structures Program (otherwise known as HPTC or the Historic Preservation Tax Credit) was originally passed in the 2013 legislative session and was titled the “Colorado Job Creation and Main Street Revitalization Act”. This legislation authorized a Colorado State income tax credit to encourage the rehabilitation of historic commercial structures and to support economic revitalization as authorized under C.R.S. 39-22-514.5. The statutes were revised during the 2018 legislative session extending the program – a set amount of tax credits is made available each calendar year to reserve funds for qualified rehabilitation projects on a first-come-first-served basis; reservations for this tax credit must be made prior to 12/31/2029.
This incentive program is jointly administered by OEDIT and History Colorado, and rehabilitation requirements conform to the The Secretary of the Interior’s Standards for Rehabilitation. In addition to this Colorado income tax credit referred to as the “2014 Credit”, an additional commercial building tax credit referred to as the “1990 Credit” and the residential historic preservation tax credit as authorized by C.R.S. 29-22-514 are administered by History Colorado. Taxpayers claiming any of these tax credits should make sure to identify the appropriate tax credit on their Colorado State Income Tax Return; on the 2018 Individual Credit Schedule claim the HPTC on Lines 33 and 34 (see Colorado Department of Revenue Instructions & Forms). Taxpayers may not claim both the 1990 and 2014 tax credits for the same historic rehabilitation project.
Available HPTC Funding
Program Guide for detailed information (Currently Under Review)
To apply for State of Colorado Commercial HPTC Program visit the OEDIT Application Portal. The online application system is only compatible with certain web browsers: Google Chrome, Mozilla Firefox, Safari and Internet Explorer 10
Step 1: Review Overall Program Requirements and Tax Credit Funding
Step 2: Submit the Qualifying Questionnaire
Step 3: Apply for the Reservation of Tax Credits
Step 4: Apply for the Issuance of Reserved Tax Credits
Step 5: Claim, Use, and Transfer of Tax Credits