- (a) Eligibility. Income-producing buildings listed in the National Register of Historic Places or located in certain approved local historic districts may qualify for federal tax incentives when rehabilitated. The owner or long-term lessee who incurs the cost of rehabilitating such properties is eligible for the tax benefits.
- (b) Applications. A project application must be submitted to the Texas Historical Commission for review in respect to the appropriateness of the project work. Within a specified period of time the project application and the commission's review comments are forwarded to the U.S. Department of the Interior for a final determination of appropriateness. For approved projects, the Texas Historical Commission provides technical consultation during planning and during the implementation of project work.
Source Note:The provisions of this §15.5 adopted to be effective December 31, 1984, 9 TexReg 6315.