House Bill 1197 expands the revitalization zone tax credits to include the rehabilitation of historic residential structures. The bill requires the certified historic residential structure owner or investor to be certified by the Commissioner of the Department of Community Affairs as eligible to receive the revitalization zone income tax credit. HB 1197 requires that the historic residential structure be located in an area within the revitalization zone which is a designated historic district. The bill allows the revitalization zone designation to last for five years with the option for a two year extension. HB 1197 prohibits any new extensions or designations after 2027.