House Bill 1116 extends the sunset date for income tax credits for the rehabilitation of historic structures. The bill extends the sunset date from January 1, 2025 to January 1, 2035. HB 1116 requires the Department of Community Affairs (DCA) to certify historic structures in order for the rehabilitation of the structures to be eligible for the income tax credit starting on January 1, 2026. The bill allows for a maximum credit for any certified structure, other than historic homes, of $7.5 million in any taxable year. If the project creates more than 200 full-time, permanent jobs, it will be eligible for up to $15 million in tax credits for a certified structure. HB 1116 caps the total income tax credits for certified structures at $60 million in aggregate per year. The bill would not allow for income tax credits to be issued after January 1, 2029 for certified structures other than historic homes.