Novogradac recently released a technical information release (TIR) from the Massachusetts Department of Revenue that describes provisions in the state’s Affordable Homes Act (H.B. 4977), including changes in the State Historic Tax Credit and the introduction of the qualified conversion credit for converting commercial property into residential housing. The annual cap for the State HTC will increase from $55 million to $110 million for tax years beginning on or after Jan. 1, 2024, and the sunset date is extended three years, to Dec. 31, 2030. The qualified conversion credit is for up to ten percent of the development costs and can be carried forward for up to ten years.