Recent News

Monday, February 18, 2019

Legislation introduced in Connecticut would provide an exemption for buildings in opportunity zones (OZs) and in distressed municipalities from compliance with certain historic preservation requirements. HB6552 would exempt individuals who wish to alter a historic building in an OZ from the full process in the state code for historic renovation. It would also exempt distressed cities that have been unable to alter a historic building for five years or more.

Thursday, February 14, 2019

Legislation was introduced in both houses of the Tennessee Legislature to create a state historic tax credit (HTC). HB 1063 (and SB 1053) would create an HTC worth 10 percent of qualified rehabilitation expenditures for properties in Davidson or Williamson counties; 20 percent for structures in Hamilton, Knox or Shelby counties; and 30 percent for all other certified historic structures.

Friday, January 25, 2019

President Donald Trump today announced a short-term funding agreement to end the partial federal government shutdown after 35 days. The agreement will allow the U.S. Department of Housing and Urban Development to fund expired and expiring housing contracts and will allow the Community Development Financial Institutions (CDFI) Fund to resume movement toward the announcement of new markets tax credit allocations. The legislative measure will fund the government through Feb. 15 and Trump said border security negotiations will continue during the interim.

Thursday, January 24, 2019

Legislation was introduced in Hawaii today by five state senators to create a state historic tax credit worth 25 percent of qualified rehabilitation expenses, with a 30 percent credit for properties that include a minimum amount of affordable housing. SB 1394 would include the 30 percent credit if 20 percent of housing units are affordable rental units or 10 percent are affordable homeownership units. The credit would begin in 2020.

Thursday, January 24, 2019

Five Michigan state senators introduced legislation this week to reinstate a state historic tax credit. SB 54 would create a credit for 25 percent of qualified rehabilitation expenses. The credit would be effective Jan. 1. The nonrefundable credit could be carried forward up to 10 years. Michigan passed a state HTC in 1999, but it was zeroed out in 2011 and has not been funded since.

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