Rhode Island Gov. Daniel McKee last month signed legislation extending the sunset date of the state historic tax credit (HTC) to June 30, 2024. H.B. 6106 extends the sunset date by one year or until the maximum aggregate credits is exhausted. The Rhode Island HTC is for 20% of qualified rehabilitation expenditures (QREs) for commercial property owners, condominiums and nonprofits, with a 5% bonus if 25% of total rental space (or the entire first floor) is used in trade or business. The Rhode Island HTC was extended 18 months in mid-2021, then an additional six months in late 2022.

The Advisory Council on Historic Preservation in June adopted a Climate Change and Historic Preservation Policy Statement to acknowledge the connections between climate change and historic properties. The statement urges stakeholders to take steps to address the impacts in all stages of planning, including that for properties receiving the federal historic tax credit (HTC). The statement lists 15 priorities, with calls for the impact to historic properties to be an integral part of climate adaptation planning and implementation, a survey and identification of historic properties to focus on areas with the highest potential for climate impacts, permitting and environmental review of clean energy projects and climate-friendly transportation projects to be expedited while ensuring full consideration of potential impact to historic properties and more.