CURRENT ISSUES

Federal Historic Tax Credit

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Federal Historic Tax Credit Project - Denver Union Station
Federal Historic Tax Credit Project - Historic Fruitdale School
Federal Historic Tax Credit Project - Ice House
Federal Historic Tax Credit Project - Sheedy Mansion

ADVOCACY ALERT: Federal Historic Tax Credit Threatened

UPDATE: The House eliminated the HTC in their tax reform, but the Senate included it in their bill passed last week. Now the House and Senate Conference Committee is reconciling the two bill versions. The preservation community must continue to contact legislators, especially your House of Representative, and urge them to support retaining the HTC in the tax reform bill. The Senate included the HTC with the current 20% credit, with a provision that it must be claimed over a five year period instead of the option to take it all at once. House members still have an opportunity to voice their support of the HTC when Republican members of the House and Senate negotiate the final tax package. It is important that you call your representatives to support the importance of the HTC to American communities.

Since 1986 when the federal historic tax credit became a permanent part of the tax code, it has played a critical role in saving important historic buildings, creating jobs, and increasing economic activity, all while returning more tax revenue to the Treasury than it costs.

The Federal Historic Tax Credit still needs your support during the tax reform bill reconciliation, which will be decided this month! It is the most potent preservation tool to catalyze the preservation of commercial buildings in our communities – making projects possible.

To CALL your local representative CLICK HERE!

To EMAIL your local representative CLICK HERE!

After efforts earlier this month in the Senate Finance Committee—led by Senator Cassidy (R-LA) and including Senators Grassley (R-IA), Roberts (R-KS), Isakson (R-GA), Scott (R-SC), and Portman (R-OH)—to improve the Historic Tax Credit provisions during the markup, it is critical that the legislative process does not reverse their efforts.

COLORADO IMPACTS

Over the years the tax credit has supported revitalization of buildings like Union Station, the Ice House, Colorado National Bank, the Sugar Building, the Tattered Cover at the Lowenstein, Historic Fruitdale School and more! The credit will also make possible the coming conversion of Tammen Hall, once part of Children’s Hospital, into affordable senior housing. These are projects we all love – and projects that are cornerstones of Denver’s character.

The historic tax credit has also influenced our community in these other ways:

• Created more than 2.4 million well-paying local jobs
• Leveraged $131.8 billion in private investment in our communities
• Generated more tax revenue than it has cost the Treasury
• And preserved more than 42,293 buildings that form the historic fabric of our nation

Please help us ensure that today’s tax writers appreciate the value of the federal historic tax credit for the future of our country and the Denver Community. Thank you for helping us strengthen the efforts across the nation to deliver the strong message that the historic tax credit is simply too vital a program to lose! Your Voice Matters! Call or Email today!

Read more about the Federal Historic Tax Credit HERE.
And more information can be found HERE.

To CALL your local representative CLICK HERE!
When you call the offices of your Members of Congress during office hours, ask to speak to tax staff or ask for email addresses of tax staff.

To EMAIL your local representative CLICK HERE!

2017-12-06T21:20:28+00:00