94-089-813 Me. Code R. § 2

Current through 2024-37, September 11, 2024

Section 089-813-2 - DEFINITIONS

The following terms used in this rule shall be defined as below:

1. "Affordable Housing Rehabilitation Credit Increase" means the increased credit amount allowed for the creation of affordable housing pursuant to Title 36.

2. "Certified Historic Structure" means any building (and its structural components) which:

A. Is individually listed in the National Register of Historic Places, or

B. Is located in a Registered Historic District and is certified by the Secretary of the Interior or Director as being of historic significance to the district.

(1) For purposes of the Substantial Rehabilitation Credit only the Secretary of the Interior may certify a historic structure as being of historic significance to a Registered Historic District.

(2) For purposes of the Small Project Rehabilitation Credit only the Director may certify a historic structure as being of historic significance to a Registered Historic District.

3. "Certified Qualified Rehabilitation Expenditure" means a qualified rehabilitation expenditure, as defined by the federal Internal Revenue Code, section 47(c)(2), made between January 1, 2008 and December 31, 2013 and used in the Certified Rehabilitation of a Certified Historic Structure. For purposes of the Small Project Rehabilitation Credit, Qualified Rehabilitation Expenditures incurred in the Certified Rehabilitation of a Certified Historic Structure located in the State do not include a requirement that the Certified Historic Structure be substantially rehabilitated.

4. "Certified Rehabilitation" means any Rehabilitation of a Certified Historic Structure which the Secretary of the Interior or Director has certified as being consistent with the historic character of such property and, where applicable, the district in which such structure is located.

A. For purposes of the Substantial Rehabilitation Credit, only the Secretary of the Interior may certify a Rehabilitation.

B. For purposes of the Small Project Rehabilitation Credit, only the Director may certify a Rehabilitation.

5. "Commission" means the Maine Historic Preservation Commission.

6. "Director" means the director of the Commission.

7. "Federal Historic Rehabilitation Tax Credit" means the tax credit allowed pursuant to Section 47 of the Internal Revenue Code.

8. "Inspection" means a visit by an authorized representative of the Director to a property for the purposes of reviewing and evaluating the significance of the building and the proposed, ongoing or completed Rehabilitation work.

9. "National Register of Historic Places" or "National Register" means the National Register of districts, sites, buildings, structures, and objects significant in American history, architecture, archeology, engineering, and culture that the Secretary of the Interior is authorized to expand and maintain pursuant to section 101(a)(1) of the National Historic Preservation Act of 1966, as amended.

10. "Owner" means a person, partnership, corporation, or public agency holding a fee-simple interest in a property or any other person or entity recognized by the Internal Revenue Code for purposes of the applicable tax benefits (as defined by 36 CFR 67.2) .

11. "Placed in Service" has the same meaning as is ascribed to the term under 26 CFR 1.46 - 3(d).

12. "Property" means a building and its site and landscape features.

13. "Qualified Rehabilitation Expenditures" has the same meaning as is ascribed to the term under 26 CFR 1.48 - 12(c).

14. "Registered Historic District" means:

A. Any district listed in the National Register of Historic Places, and

B. Any district;

(1) which is designated under a statute of the appropriate local government, if such statute is certified by the Secretary of the Interior as containing criteria which will substantially achieve the purpose of preserving and rehabilitating buildings of historic significance to the district pursuant to 36 CFR 67.8; and

(2) which is certified by the Secretary of the Interior as meeting substantially all of the requirements for listing of districts in the National Register pursuant to 36 CFR 67.9.

15. "Rehabilitation" as defined by the Secretary of the Interior's Standards for Rehabilitation, means the process of returning a property to a state of utility, through repair or alteration, which makes possible an efficient contemporary use while preserving those portions and features of the property which are significant to its historic, architectural, and cultural values.

16. "Small Project Rehabilitation Certification Application" means Parts 1, 2 and 3 of the application forms for each stage of the certification process, as more fully set forth herein.

17. "Small Project Rehabilitation Credit" means the State tax credit allowed a taxpayer equal to 25% of the Certified Qualified Rehabilitation Expenditures of a taxpayer who incurs not less than $50,000 and up to $250,000 in Certified Qualified Rehabilitation Expenditures in the rehabilitation of a Certified Historic Structure located in the State and who does not claim the Federal credit with regard to those expenditures. This credit does not require that the Certified Historic Structure be substantially rehabilitated.

18. "Standards for Rehabilitation" or "Standards" means the United States Secretary of the Interior's Standards for Rehabilitation set forth in 36 CFR 67.7.

19. "Substantial Rehabilitation Credit" means the State tax credit allowed a taxpayer equal to 25% of the Certified Qualified Rehabilitation Expenditures for which a Federal tax credit is claimed under Section 47 of the Internal Revenue Code for a Certified Historic Structure located in the State.

94-089 C.M.R. ch. 813, § 2