The Federal Historic Tax Credit's Narrow Escape
Since the late 1970s, the federal historic tax credit (HTC) has served as a vital tool for the rehabilitation of older buildings. The 20 percent credit faced the most serious threat in its existence during the lead-up to the tax bill of 2017, with elimination looking likely at several points. Sustained support from a bipartisan handful of members of Congress helped preserve the credit, though in slightly modified form, at the last minute.
Here, we provide a quick look at some of the most impressive figures associated with the credit, and the intense efforts of the National Trust, the National Trust Community Investment Corporation, and the Historic Tax Credit Coalition to save it.