Kan. Admin. Regs. § 118-5-4

Current through Register Vol. 43, No. 40, October 3, 2024

Section 118-5-4 - Application

(a) Applicant criteria. Each applicant seeking the state rehabilitation tax credit shall be either the owner or long-term lessee of the property in question. Lessee expenditures shall qualify if the term of the lease is more than the recovery period of the building for depreciation as set forth in IRS regulation 26 C. F. R. 1.48-12(c)(7)(v), as in effect July 1, 2001, and hereby adopted by reference.

(b) Application procedure.

(1) Each application shall be made on forms available from the reviewing entity according to instructions accompanying the application.

(2) Each request for certification shall be sent to the reviewing entity.

(3) Only complete applications shall be reviewed by the reviewing entity.

(4) The review of each submission of a rehabilitation certification application shall be concluded within 30 calendar days of receipt of each complete, adequately documented application. If adequate documentation is not provided, the applicant shall be notified of the additional information needed to undertake or complete the review.

(c) Application, part 1.

(1) Except as specified in K.A.R. 118-5-5(b), to submit a request for certification of a structure as a qualified historic structure, each applicant shall complete part 1 of the rehabilitation certification application provided by the reviewing entity, according to the instructions accompanying the application. The applicant shall submit the application to the reviewing entity.

(2) Part 1 of the rehabilitation certification application may be submitted before submitting part 2 or at the same time as submitting part 2 of the application. However, certification of the qualified historic structure shall be required before certification of the qualified rehabilitation plan.

(d) Application, part 2.

(1) Except as specified in K.A.R. 118-5-7(a)(2), to submit a request for certification of a qualified rehabilitation plan, each applicant shall complete part 2 of the rehabilitation certification application, on a form provided by the reviewing entity and according to the instructions accompanying the application. The applicant shall submit the application to the reviewing entity.

(2) Part 2 of the rehabilitation certification application may be submitted when the applicant submits part 1 of the application. However, certification of the qualified historic structure shall be required before certification of the qualified rehabilitation plan.

(3) Before part 2 is reviewed, the applicant shall submit a fee to the reviewing entity, as specified in K.A.R. 118-5-10.

(4) Each applicant seeking the state tax credit but not the federal rehabilitation tax credit shall submit part 2 of the application and receive the approval of the reviewing entity or state historic preservation office before commencing work.

(5) Each applicant seeking both the federal and state credit shall comply with the requirements set forth in IRS regulations 26 C.F.R. 1.48-12, as in effect July 1, 2001, and hereby adopted by reference.

(e) Application procedure, part 3.

(1) Each applicant shall complete part 3 of the rehabilitation certification application.

(2) The tax credit shall not be claimed until the project has been certified as having been completed according to the qualified rehabilitation plan certified by the reviewing entity. To request final certification of a qualified rehabilitation plan, the applicant shall complete part 3 of the rehabilitation certification application, on a form provided by the reviewing entity and according to the instructions accompanying the application, and submit it to the reviewing entity.

(3) Part 3 shall not be submitted for review until the rehabilitation project detailed in part 2 is completed.

Kan. Admin. Regs. § 118-5-4

Authorized by and implementing L. 2001, ch. 108, sec. 1; effective, T-118-9-5-01, Sept. 5, 2001; effective Aug. 2, 2002.