| (a) Projects seeking federal and state credits. Projects
seeking certification for both the federal rehabilitation tax credit
and the Texas Historic Preservation Tax Credit must meet eligibility
requirements for each program separately.
(1) Applicants for both programs shall submit the first
page of the Part A, B, and C application forms, accompanied by the
Part 1, 2, and 3 application forms for the federal rehabilitation
tax credit program, respectively.
(2) A project, or any part or phase of a project, also
submitted for the federal rehabilitation tax credit will be reviewed
and approved or rejected by the National Park Service before the Commission
issues its determinations under this chapter. Official written determinations
from the National Park Service, including Advisory Determinations
on phased work, may meet this qualification. The Commission will consider
National Park Service decisions in rendering its determinations. A
project that receives certification for the purposes of the federal
rehabilitation tax credit will receive a certification of eligibility
pursuant to the Texas Historic Preservation Tax Credit, provided that
the building is a certified historic structure at the time the credit
is taken.
(3) Applicants may subdivide a phased project submitted
for the federal rehabilitation tax credit program into a series of
smaller projects submitted for the state program. These smaller projects
must be described in the application for the federal credit at the
outset of the project, and must correlate to individual phases of
the federal phased project. Each project corresponding to a phase
of the federal tax credit project may be submitted for the state credit
when that phase of work is placed in service. Official determinations
from the National Park Service must still be received for each phase
of work submitted for the federal program before the Commission issues
its determination on each corresponding smaller project submitted
for the state program.
(4) The review fees required per §13.6 of this
title, Application Review Process, must be paid before the Commission
will issue any determinations or certifications pursuant to the Texas
Historic Preservation Tax Credit, even if the project has previously
received certification by the National Park Service for the federal
rehabilitation tax credit.
(b) Projects seeking state credit exclusively. If the
applicant is eligible to claim a state credit exclusively, then the
application forms for the Texas Historic Preservation Tax Credit provided
by Commission shall be used. Determinations by the Commission that
a project includes a certified historic structure and/or a certified
rehabilitation apply only to the Texas Historic Preservation Tax Credit
Program and are not binding on any other local or federal tax credit
program.
|
