The Historic Tax Credit and Growth Opportunity Act (H.R. 2294/S. 2266) was introduced in the Senate last month by Senators Ben Cardin (D-MD), Bill Cassidy (R-LA), Maria Cantwell (D-WA), and Susan Collins (R-ME). Both the House and Senate bills include provisions that would permanently add value to the Historic Tax Credit (HTC), improve access to the credit, and increase investment in smaller rehabilitation projects. H.R. 2294 also includes temporary tax provisions to increase the credit from 20 to 30 percent for all projects and bring relief to rehabilitation projects impacted by the pandemic. The HTC-GO bill includes nearly 60 bipartisan cosponsors in the House.
At this time, take action to urge your representatives and senators to cosponsor these bills that ensure the ongoing success of the HTC in rehabilitating the nation’s historic buildings and supporting community revitalization.