• Historic Tax Credit Coalition Buildings Support for HTC-GO Bill in House and Senate

    July 26, 2023

    Support for the Historic Tax Credit Growth and Opportunity Act (S.639 / H.R. 1785) (HTC-GO) continues to grow as members of Congress are hearing from constituents and advocates in Washington.

    New co-sponsors in the House and Senate include Sens. Robert Casey (D-PA) and Diane Feinstein (D-CA) and Reps. Lloyd Smucker (R-PA), Richard Hudson (R-NC), Marcy Kaptur (D-OH), Troy Carter (D-LA), Jimmy Gomez (D-CA), Trent Kelly (R-Mississippi), Garret Graves (R-LA), Dwight Evans (D-PA), Brad Finstad (R-MN), and Betty McCollum (D-MN).

    Take the opportunity to thank these members for their support, and encourage others in your Congressional delegation who have not yet cosponsored HTC-GO to do so!

    Growing the number of cosponsors of the legislation will show that strengthening the historic tax credit incentive is supported across the political spectrum and would be a well-supported addition to any legislation moving through Congress.

  • New Report! State Historic Tax Credits: Opportunities for Affordable Housing and Sustainability

    July 12, 2023

    The world of redevelopment and state historic tax credits is changing to help address two of our country’s most pressing challenges—creating more affordable housing and lowering carbon emissions. Access the recent report, State Historic Tax Credits: Opportunities for Affordable Housing and Sustainability, from the National Trust for Historic Preservation for innovative ways state historic tax credits are not only rehabilitating important historic buildings, but also offering solutions to the affordable housing crises and a way forward in reaching our climate change and sustainability objectives. Lakisha Ann Woods, EVP/CEO of the American Institute of Architects and Peter H. Bell, CEO of the National Housing & Rehabilitation Association share why their organizations support this type of preservation incentive.

    For more than 30 years, the National Trust has supported the enactment of 37 state historic tax credits, and today, the organization continues to work with partners to increase this number. These incentives at the state level build on the successful federal program which is managed by the National Park Service and state historic preservation offices, and they attract private investment to reuse historic properties, many of which would otherwise likely be demolished.

    With more than 70 percent of states adopting some form of historic tax credit incentive to support building reuse, the utility and success of this preservation policy is clear. As states look to strengthen and tailor these incentives, this report and the State Historic Tax Credit Resource Guide from the National Trust offers an overview of the tangible benefits of historic tax credit programs, the elements of top-performing credits, and a state-by-state comparative analysis of key features.

    They are intended to serve historic preservation policy makers, advocates, and practitioners alike as they determine the optimal incentive for their state. Learn more on our State Historic Tax Credits page.

    You can also watch a recording of the webinar last month announcing the report (below and on YouTube).

    The National Trust for Historic Preservation gratefully acknowledges the generous support of David and Julia Uihlein who made the development of this report and online resources possible.

  • National Trust joins Historic Tax Credit Coalition Stakeholders on the Hill in Support of HTC-GO

    June 28, 2023

    Nixon Peabody’s Institute of Professional and Executive Development (IPED) held its annual historic tax credit symposium and fly-in on June 14-16 in Washington, DC.

    Leading up to the conference, participants had the opportunity to meet with their congressional representatives in over 80 individual meetings to convey support for the Historic Tax Credit and Growth Opportunity Act (HTC-GO).

    The National Trust and the National Trust Community Investment Corporation (NTCIC) prepared advocacy materials and provided organizational support for meetings, including meetings with key members of Congress that serve on the House and Senate tax-writing committees.

    If you have not already done so, please encourage your Congressional delegation to support the HTC-GO bills currently pending in the House and Senate.

  • Take Action! Strengthen the Federal Historic Tax Credit

    March 28, 2023

    Legislation has been reintroduced in the House and Senate that would make long-overdue changes to the country's Historic Tax Credit (HTC).

    As you know, historic tax credits have successfully converted yesterday’s schools, factories, warehouses, hotels, and so many other distinctive places into modern hubs that fuel local economies, create jobs, and preserve our heritage. We now have a chance to make this program even more effective.

    Members of Congress have just introduced legislation that will enhance the value of the federal HTC. Both Senate and House bills include provisions to improve access to the credit and increase investment in smaller rehabilitation projects.

    Last Congress, HTC-GO attracted a record-setting 104 cosponsors in the House and 15 members in the Senate. The significant base of support that was established in the 117th Congress puts HTC advocacy in a strong position in this Congress.

    Public advocacy by supporters like you can make a difference. With sustained advocacy, the preservation community will be well-positioned to take advantage of a very rare opportunity to substantially improve and modernize the federal historic tax credit.

    Urge Your Members of Congress to Support Improvements to the Historic Tax Credit!

  • Historic Tax Credit Growth and Opportunity Act Reintroduced

    March 24, 2023

    On March 2, Senators Ben Cardin (D-MD), Bill Cassidy (R-LA), Maria Cantwell (D-WA), and Susan Collins (R-ME) introduced the Historic Tax Credit Growth and Opportunity Act (HTC-GO) (S. 639).

    The bill includes four permanent provisions that will add value to the federal historic tax credit (HTC) program, improve access to the credit, and increase investment in smaller rehabilitation projects.

    Similar legislation was introduced in the House (H.R. 1785) by Representatives Earl Blumenauer (D-OR), Brian Higgins (D-NY), Mike Kelly (R-PA), Darin LaHood (R-IL), Terri Sewell (D-AL), and Mike Turner (R-OH) on March 24.

    The House bill also includes a temporary tax provision to address recent challenges facing rehabilitation projects.

    The HTC has lost investment value over the past ten years due to multiple complex factors, including new IRS rulings, administrative burdens, changes in the credit structure, along with the changes of the Tax Cuts and Jobs Act of 2017. The result is that the value of the tax credit investment has dropped 20-25%.

    These issues, combined with rising interest rates and skyrocketing costs of materials and labor, have exacerbated financing challenges already present with these projects. Current National Park Service data shows that usage of the HTC is down 20%, for both FY22 and FY21, compared to 4 years ago.

    Last Congress, HTC-GO attracted a record-setting 104 cosponsors in the House and 15 in the Senate. The National Trust is hopeful that with the significant base of support established in the 117th Congress, HTC legislation is in a strong position to advance.

    Ask your members of Congress to support the HTC-GO legislation to strengthen the HTC program.

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Announcing the 2024 list of America’s 11 Most Endangered Historic Places.

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