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California Governor Gavin Newsom has signed Senate Bill 451 into law, creating a new statewide historic rehabilitation tax credit incentive to help spur the reuse of existing historic buildings. According to the Los Angeles Conservancy website, the bill builds on previous historic tax credit... View full entry
The legislation would bring more value to historic tax credits and improve access to the credit and investment for smaller rehabilitation projects.
The legislation was introduced in the House of Representatives by Congressmen Earl Blumenauer (D-OR), Darin LaHood (R-PA), Terri Sewell (D-AL) and Mike Kelly (R-PA). Senate introduction of similar legislation is expected within the next few weeks.
— ntcic.com
Efforts to expand the Historic Tax Credit (HTC) program have earned bipartisan support in the United States House of Representatives, where last month Congress members Earl Blumenauer (D-OR), Darin LaHood (R-PA), Terri Sewell (D-AL) and Mike Kelly (R-PA) introduced the Historic Tax Credit growth... View full entry
The American Institute of Architects has been one of the many vocal opponents to the House and Senate tax plans, which would gut historic tax credits and harm architecture firms, especially those smaller in size. However, after a concerted effort to lobby Congress, the AIA is newly "encouraged"... View full entry
As it’s currently written, the bill would entirely eliminate the federal Historic Tax Credit program (HTC), which provides a 20 percent tax credit for the redevelopment of blighted buildings and renovation of notable architectural landmarks. — Architectural Digest
The Reagan Administration’s Historic Tax Credit program, which helps fund historic renovation projects, is in jeopardy of being scrapped in the new tax plan unveiled in the House last week. According to Architectural Digest, the conservative idol's program has preserved more than 40,000 total... View full entry
President Obama gave his final State of the Union speech last night, which prompted the AIA to issue a statement outlining policies it feels President Obama and Republicans in Congress should enact this year in order to bolster the health of the architectural profession. These include: •... View full entry
