Urge Your Members of Congress to Support the Historic Tax Credit Enhancement Act
Legislation was introduced by Rep. Darin LaHood (R-IL) and Rep. Earl Blumenauer (D-OR) in the House and Sen. Bill Cassidy (R-LA) and Sen. Ben Cardin (D-MD) in the Senate aimed at strengthening the Historic Tax Credit (HTC). The Historic Tax Credit Enhancement Act (H.R 6081, S. 3058) would eliminate the basis adjustment requirement on HTC transactions. This change would put the HTC more in line with the Low Income Housing Tax Credit and enhance the value of the HTC investments, while still maintaining most of the cost savings from the changes made during tax reform. The bill has been referred to the House Ways and Means Committee and Senate Finance Committee. Last year's tax reform bill, while it maintained the 20% HTC, called for the credit to be phased in over 5 years. The impact of this change is it reduces the overall effectiveness of the program. The Historic Tax Credit Enhancement Act would recapture some of that lost value.
Call to Action
We need your help! Urge your members of Congress to Support the Historic Tax Credit Enhancement Act.
This bill would make critically important changes to recapture some of the lost value from the Historic Tax Credit and our supporters believe it has a good chance of being attached to a larger legislative package. Our partners at the National Trust for Historic Preservation have an easy to use tool to urge your members of Congress to support the Historic Tax Credit Enhancement Act. Reach out to your members today!
Contact your U.S Representative and U.S Senators' office and urge them to cosponsor the HTC Enhancement Act! Currently the House bill has 5 cosponsors and the Senate bill is up to 4 cosponsors. Learn more!
Newly Formed National Preservation Partners Network Convenes in Cincinnati
The newly formed National Preservation Partners Network convened for their inaugural meeting in Cincinnati this week. The network includes leaders of state and local preservation organizations from across the country. Preservation Action, as a member of the network, provided an update to the gathered group of preservationists which highlighted some of the legislative issues we are working on, and discussed programs like the Congressional Candidate Survey, which will be relaunched prior to November's midterm elections.
Many thanks to the National Preservation Partners Network for the opportunity to participate and a special thanks to our hosts for the week, Heritage Ohio and the Cincinnati Preservation Association, who continue to do amazing work. Be sure to like the National Preservation Partners Network on Facebook and stay tuned for more information on this new and important organization.
Save the Date! Preservation Action Foundation Annual After Party and Auction Returns on Nov. 14th
This is our largest fundraiser of the year and the proceeds from this event are used to assist the education and training, advocacy, and programs of the Preservation Action Foundation.
We are currently seeking donations of auction items like hotel stays, tours of historic sites and other unique experiences. This is a great way to highlight your organization and city/state to an active and interested group of people. Check out our website for more information and stay tuned as we'll be adding more information in the coming weeks.
Preservation Action is the only national
non-profit dedicated exclusively to lobbying for the best preservation policies at the federal level. We seek to make historic preservation a national priority by advocating to all branches of government through a grassroots constituency empowered with information and training.