Providing an income tax credit for costs incurred for the +rehabilitation of certain certified historic structures; providing for a carryback and carryforward of tax liability; requiring pass through of credits +granted to partnerships or limited liability companies (LLC) to the partners, +members or owners; requiring taxpayer application to the state historic +preservation office of the Minnesota historical society before beginning the +project, requiring the office to determine the amount of eligible +rehabilitation costs, eligibility certificate issuance requirement and fee charging +authority; authorizing the taxpayers to elect in lieu of the credit to receive a+ historic rehabilitation mortgage credit certificate, specifying terms and +conditions, restricting transfer of the certificates to home mortgage lending +institutions in connection with a loan, requiring application of the loan amount +to reduce the principal amount of or the rate of interest on the loan or the +cost of purchasing the building, providing for a lending institution tax +credit; requiring the historical society to annually determine the economic +impact to the state from the credit for rehabilitation of eligible property and+ to report to the legislature(ra)