In October, we posted a piece explaining the need to repair New York’s fledgling historic tax credit program.  Specifically, we were concerned about the lack of investor demand – or “appetite” – for New York’s historic tax credit (HTC), which has left languishing more than a few upstate New York historic rehab projects. As one possible solution, we called for the addition of “bifurcation” language to the HTC law.  Simply put, bifurcation would have permitted separate investors to claim the federal and New York HTCs, respectively, thereby increasing the pool of potential investors (i.e., demand).

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