On June 12, the Government Relations team took part in an in-person advocacy day for the Historic Tax Credit, hosted by the Historic Tax Credit Coalition (HTCC) and the National Trust Community Investment Corporation (NTCIC).

Alongside several dozen HTC stakeholders from across the country, advocates met with more than 60 Congressional offices in both the House and Senate, stressing the importance of historic preservation for all Americans and the need to modernize the historic tax credit as more and more buildings reach the 50-year threshold.

As a result, new cosponsors were added to the Historic Tax Credit Growth and Opportunities Act (HTC-GO) (S. 639/ H.R. 1785) and several representatives in the House expressed interest in joining the Historic Preservation Caucus.

HTC-GO is a bipartisan bill sponsored in the House by Representatives Darin LaHood (R-IL), Earl Blumenauer (D-OR), Mike Kelly (R-PA), Terri Sewell (D-AL), Mike Turner (R-OH), and Brian Higgins (D-NY) and in the Senate by Ben Cardin (D-MD), Bill Cassidy (R-LA), Maria Cantwell (D-WA), and Susan Collins (R-ME).

The House and Senate bills include several provisions that will add value to the Historic Tax Credit and strengthen the incentive to make more historic rehabilitation projects possible.

Among other provisions, the bill increases the HTC percentage from 20%-30% for smaller projects and lowers the substantial rehabilitation threshold, which will allow more buildings to access the HTC.

The tax credit has not been positively changed since 1986, and your support is needed.

Please take the time to reach out to your Representatives and Senators and ask them to support this bill.