Advocacy for historic preservation tax credits
Preservation organizations including the National Trust for Historic Preservation and Preservation Delaware are urging citizens to contact their U.S. senators regarding support for improvements to federal historic preservation tax credits that are being considered as part of the Build Back Better infrastructure legislation that is currently being debated in Congress.
In the last 20 years, over 70 Federal Historic Preservation Tax Incentives projects in Delaware have leveraged over $243 million in total development. Presently there are approximately 20 federal historic preservation tax credit projects in progress across the state.
Provisions to improve the historic preservation tax credit were included in the House of Representatives’ initial drafting of infrastructure legislation, and on Sept. 15, 2021, the House Ways and Means Committee approved its piece of the Build Back Better legislation which included all of the provisions of the Historic Tax Credit Growth and Opportunity Act (HTC-GO). Disagreement over the size of the infrastructure legislation, however, may mean that the tax credit measures may be reduced or eliminated.
Go to the following to learn more about advocacy efforts in support of improvements to the federal historic preservation tax credit program.