New law establishes an individual income tax credit for restoring owner-occupied residential or mixed-use structures up to $25,000 per structure based on the homeowner’s adjusted gross income.

• Effective for taxable years from 2006 through 2009
• Credits may not be sold and will be lost if the house is sold within five years
• Rehabilitation costs must exceed $20,000 per structure
• A nominal application fee of $250 is paid to the State Division of Historic Preservation

The Division of Historic Preservation should be contacted early in the planning process. Questions about the application process should be directed to Alison F. Bordelon at the Division of Historic Preservation at 342-8160 or visit www.louisianahp.org

For additional information contact James Andermann of the Downtown Development District at (225) 389-5520.