Preservation Action, Action Alert
Urge Your Rep to Cosponsor the HTC-GO Act: May 24, 2019
The Historic Tax Credit Growth and Opportunity Act (H.R 2825) was introduced in the House and would make several changes to improve and enhance the Historic Tax Credit (HTC). The HTC was saved from elimination during last year’s tax reform efforts, but was altered, requiring the the tax credit be given over 5 years, reducing the overall value. This important legislation would help to restore some of the value lost from tax reform and improve access to the credit for smaller rehabilitation projects.The bipartisan bill was introduced by Representatives Earl Blumenauer (D-OR), Darin LaHood (R-IL), Terri Sewell (D-AL), and Mike Kelly (R-PA), along with original cosponsors Rep. Mike Turner(R-OH) and Rep. Brian Higgins (D-NY) This bill combines aspects of the HTC Improvement Act and HTC Enhancement Act, both of which were introduced in the 115th Congress.
The HTC Growth and Opportunity Act would eliminate the tax credit basis adjustment, which decreases the value of the HTC. This change would make the HTC more in line with other tax credit programs and help restore some of the value lost by the changes made during tax reform. Additionally, the bill would increase the credit from 20% to 30% and allow for the transfer of credits as a tax certificate, for projects under $2.5 million. These changes would make the credit more appealing and improve access for smaller projects. H.R 2825 was referred to the House Ways and Means Committee.
Take Action
Urge your Representative to cosponsor the Historic Tax Credit Growth and Opportunity Act (H.R 2825) today! If you have a personal contact in your member’s Washington D.C. or District office, contact that person directly. Ask them to cosponsor the Historic Tax Credit Growth and Opportunity Act introduced by Representatives Blumenauer and LaHood in the House. You can also check out this
easy to use tool from the
National Trust for Historic Preservation to ask your member to cosponsor.
Action Alert: Urge Your Rep to Cosponsor HR2825 Today →
The Historic Tax Credit Growth and Opportunity Act (H.R 2825) was introduced in the House and would make several changes to improve and enhance the Historic Tax Credit (HTC). The HTC was saved from elimination during last year’s tax reform efforts, but was altered, requiring the the tax credit be given over 5 years, reducing the overall value. This important legislation would help to restore some of the value lost from tax reform and improve access to the credit for smaller rehabilitation projects.The bipartisan bill was introduced by Representatives Earl Blumenauer (D-OR), Darin LaHood (R-IL), Terri Sewell (D-AL), and Mike Kelly (R-PA), along with original cosponsors Rep. Mike Turner(R-OH) and Rep. Brian Higgins (D-NY) This bill combines aspects of the HTC Improvement Act and HTC Enhancement Act, both of which were introduced in the 115th Congress.