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BILL TO EXPAND HISTORIC TAX CREDIT INTRODUCED

Wednesday, June 13, 2012 - 7:30AM

Rep. David McKinley, R-W.V., last week introduced H.R. 5930, the Preserving America’s Downtowns and Heritage Act of 2012. The bill would increase the historic rehabilitation tax credit (HTC) to 25 percent for historic commercial structures, and to 12.5 percent for non-historic commercial structures. H.R. 5930 also proposes a 20 percent credit for the rehabilitation of historic principal residences. The bill was referred to the Ways and Means Committee.

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