Historic Rehabilitation Limited Partnership

Definition

A partnership created to restore structures to their original condition and take advantage of the rehabilitation tax credit provided by the IRS Code. The credit reduces taxes dollar for dollar. Additional tax credits are available for restoring structures built before 1936 and that are not declared as historic by the Department of the Interior. The partnership itself can be comprised of builders, investors, general partners, professionals, or any other individual or group with a specialized interest in the restoration of the structure.

单词	Historic Rehabilitation Limited Partnership
释义	Historic Rehabilitation Limited Partnership Definition A partnership created to restore structures to their original condition and take advantage of the rehabilitation tax credit provided by the IRS Code. The credit reduces taxes dollar for dollar. Additional tax credits are available for restoring structures built before 1936 and that are not declared as historic by the Department of the Interior. The partnership itself can be comprised of builders, investors, general partners, professionals, or any other individual or group with a specialized interest in the restoration of the structure.
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