Urge Your Senators to Support Improvements to the Historic Tax Credit!
As a result of you unwavering support, provisions to improve the historic tax credit were included in the initial drafting of the Build Back Better legislation in the House of Representatives where many other tax proposals did not make the cut. Unfortunately, as a result of the reduce spending targets, the revised legislation strips out all of the Historic Tax Credit Growth and Opportunity Act (HTC-GO) provisions. Spending for community development tax incentives was significantly reduced and there continues to be pressure to reduce the size and scope of the Build Back Better legislation.
Once the House passes the legislation, it will be considered by the Senate where it is highly likely the bill will be amended. This presents an opportunity for preservation advocates to raise our voices and let the Senate know that historic rehabilitation projects are exactly the type of infrastructure investment our communities need and that HTC-GO must be included in the final Build Back Better legislation.
With persistent advocacy over the next several weeks, the preservation community can create opportunities to reinsert HTC-GO provisions into the legislation and substantially improve and modernize the federal historic tax credit.
Urge your senators to include improvements to the historic tax credit as part of the Build Back Better legislation making its way through Congress.