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NEW JERSEY GOVERNOR VETOES STATE HISTORIC TAX CREDIT

Tuesday, February 22, 2011 - 8:00AM

Gov. Chris Christie on Friday vetoed a bill that would have created a state historic rehabilitation tax credit program in New Jersey. The Historic Property Reinvestment Act (A1851/S659) would have provided a tax credit to businesses and homeowners for 25 percent of qualified rehabilitation expenses for renovation of historic buildings. In a press release announcing his veto of A1851 and 13 other bills, Christie referred to the bills as irresponsible spending. The bill had passed unanimously in the Senate and received heavy support from the Assembly.

Tune in to the Tax Credit Tuesday podcast on March 1 to hear more about the veto and reaction from New Jersey preservation groups.

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