Legislation Introduced in Kentucky to Improve the State's Historic Tax Credit Program
Legislation was introduced in the Kentucky General Assembly that would expand the state's historic tax credit program from a $5 million annual cap to a $30 million annual cap. The bill would maintain Kentucky's current 20% tax credit for income producing properties and 30% tax credit for owner-occupied residential properties. This increase would have a huge impact on historic buildings across the state. Since 2005, Kentucky's historic tax credit has rehabilitated 817 historic buildings, created 17,475 jobs and generated $517 million in private investment, leveraged through $39.7 million in tax credits.
House Bill 456 was introduced by state Rep. Tommy Turner and referred to the Appropriations and Revenue Committee. The Kentucky legislature will have a short time period to consider legislation, as the 2019 session only lasts until mid March. That means advocates have a very short window for their voices to be heard. Check out the latest alert from
Preservation Kentucky to learn more about these efforts and find out how you can help.