Second assignment of the historic structure rehabilitation credit permission

Minnesota Senate File 2115 modifies rules for historic building rehabilitation tax credits by allowing a second assignment of credit certificates. It directly affects developers and businesses that qualify for these credits, enabling the original recipient to transfer the credit to a second party before claiming the first payment. The key change requires both the initial assignee and any subsequent assignee to notify the state commissioner within 30 days of each transfer. This expands prior rules that only permitted one assignment, while maintaining that credit amounts equal 100% of the federal credit (or 90% for grants) and must be claimed within three years of the allocation certificate.