LEGISLATIVE UPDATE
VOLUME 24. NUMBER 31
SEPTEMBER 24, 2021
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1. URGE SUPPORT OF HTC PROVISIONS
2. ACHP NOMINEE TESTIFIES IN SENATE
3. PAF AUCTION RETURNS NOV. 2ND
4. STORIES FROM AROUND THE STATES
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Urge Senate Democrats to Support Historic Tax Credit Enhancements Included in Reconciliation Bill |
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Last week, the House Ways and Means Committee passed their portion of the Build Back Better Act, the House $3.5 trillion budget reconciliation package. This included provisions to expand several community development tax incentives, like the Historic Tax Credit (HTC). The provisions included in the bill, mirror the enhancements called for in the Historic Tax Credit Growth Opportunity Act (H.R. 2294, S. 2266). While this is great news for the historic preservation community, we need your help to ensure these enhancements are included in the final bill!
Without any Republican support expected for the reconciliation package and slim democratic majorities, Democrats will need near unanimous support from House and Senate Democrats to advance this bill. At this point the White House is negotiating with House and Senate leadership and more centrists members of the Democratic caucus to scale back the overall price and scope of the legislation. This puts the Historic Tax Credit enhancements included in the bill at risk of being reduced or eliminated. The House reconciliation package includes the following HTC provisions:
- Sec. 135301: A temporary increase of the Historic Tax Credit from 20% to 30% through 2025, phasing back down to 20% by 2028
- Sec. 135302: Establishes a permanent 30% Historic Tax Credit for projects $2.5 million and less, making it easier to complete small projects
- Sec. 135303: Reduces the substantial rehabilitation threshold, making more buildings eligible to use the HTC
- Sec. 135304: Eliminates the HTC Basis Adjustment, bringing more value to HTCs and making it easier to pair with the Low-Income Housing Tax Credit
- Sec. 135305: Modifies tax-exempt leasing rules, making the credit easier to use by non-profits
- Sec. 135306: Enables the HTC to be used for public school buildings
Next, House leadership has said they will vote on the $1.2 trillion bipartisan infrastructure bill on Monday and has a 'goal' to finalize and pass the reconciliation package by next week. We expect the reconciliation package to be negotiated with Senate Democrats before moving to the House floor.
Take Action
At this point we expect Senate Democrats to take the lead in negotiations. Given the legislative landscape, we're urging constituents of Senate Democrats to reach out to their Senators and urge them to support the Historic Tax Credit provisions included in the House infrastructure budget reconciliation bill. Explain how these provisions would positively impact your community. Check out the Action Alert from our partners at the National Trust Community Investment Corporation for more information on how you can take action!
Additional Resources
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Nominee to Lead ACHP Testifies at Senate Committee Hearing |
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Professor Sara Bronin testified this week before the Senate Energy and Natural Resources Committee as the nominee to lead the Advisory Council on Historic Preservation (ACHP). She was nominated by President Joe Biden in June. If confirmed, she would become the agency's 2nd full-time chair. The ACHP is an independent federal agency that promotes the preservation, enhancement, and sustainable use of our nation's historic resources, and is tasked with advising the President and Congress on national historic preservation policy.
Sara Bronin is a Mexican-American architect, attorney, and policymaker that specializes in historic preservation, property, land-use and climate change. She's a graduate of the University of Texas and Yale Law School. She's currently a professor at the Cornell College of Architecture, Art and Planning and faculty member at Cornell Law School. She's a current advisor for the National Trust for Historic Preservation, a board member of Latinos in Heritage Conservation, and a past Chair of Preservation Connecticut. During the hearing she was introduced by Sen. Richard Blumenthal (D-CT) and Sen. Chris Murphy (D-CT), both of whom emphasized her unique qualifications to lead the ACHP.
During the hearing, Sara Bronin spoke on the importance of historic preservation, her commitment to work with Congress, a goal to develop procedural efficiencies, work closely with State and Tribal Historic Preservation Offices, and facilitate private investment in preservation. During questioning she was asked about reforming key preservation programs, she spoke on modernizing the Secretary of Interior's standards to focus more on the impact to historic properties from natural disasters, and the need for additional flexibility for rural and underserved communities. She also spoke on the importance of early coordination with tribes in the review process.
Sara Bronin's nomination will now be voted on by the Senate Energy and Natural Resources Committee and if approved will move to the full Senate for consideration. Preservation Action enthusiastically supports Professor Bronin's nomination to lead the ACHP and submitted a letter last week to the Committee in support of her nomination. We believe her background and experience make her exceptionally well-qualified to lead the ACHP. Watch the full nomination hearing below, and stay tuned for more.
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Refresh the Movement: Preservation Action Foundation's Annual Auction Returns Nov. 2nd |
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Preservation Action Foundation is excited to present our famous annual party and auction virtually for the second time! Join us for “Refresh the Movement: Virtual Fundraiser and Auction”, as we put last year’s challenges behind us, retool for the future and celebrate our expanded perspective on the preservation of our built, cultural and environmental heritage. We’ll be hosting an online Silent Auction from October 25th to November 8th with our Keystone Event and Live Auction on November 2nd from 7-8pm ET. Our event will help launch PastForward 2021, the virtual National Preservation Conference, which officially begins the following day. Save the date and stay tuned for ticket information!
Enjoy our spirited and timely event without leaving home. It will feature success stories about preservation across the country, honor our preservation advocacy heroes and showcase the elected officials who contributed to an incredibly successful year in Congress. The Live Auction will provide an opportunity for the attendees to purchase a wonderful array of tours and experiences, travel packages, educational opportunities, and one-of-a-kind gift items – all for a great cause. It’s time to refresh. Be there!
Donation and Sponsorship Opportunities
We're currently seeking the donation of auction items and have sponsorship opportunities available. This is a great opportunity to feature your organization, historic site, or community to a large national audience of people who are passionate about saving places. Check out our Auction donation request packet and sponsor packet to learn more! Stay tuned to www.preservationaction.org/auction for more information!
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Stories From Around the States |
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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.
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