Minnesota Governor Tim Pawlenty early this month signed into law the Minnesota Jobs Stimulus Bill (House File 2695). The bill establishes a state historic rehabilitation tax credit that mirrors the federal rehabilitation tax credit and will allow a tax credit equal to 20 percent of the cost of rehabilitating a qualifying historic property. The law also allows a developer to choose either a certificated, refundable credit or a grant, which supporters say will stimulate not-for-profit use of the incentive. Read More…