Moving Forward Act (H.R. 2)

We applaud the House for recently introducing the Moving Forward Act, to aid in COVID-19 response and recovery. Investment in our communities will greatly aid in this response, and historic preservation is key to revitalization efforts. Page 86 of the Act outlines a way to leverage investment by temporarily increasing the Historic Tax Credit (HTC) from 20% to 30% for 5 years. Further, it amends the disqualified lease rules, making the HTC easier for nonprofits and other tax-exempt entities to access it by including projects like health care centers, arts organizations, community services, workforce training providers, and others to use the HTC. This legislation also includes several provisions of the Historic Tax Credit Growth and Opportunity Act, which we have been supporting this past year. 

You can help by contacting your New York Congressional Representative and encouraging them to co-sponsor the Historic Tax Credit Growth and Opportunity Act in the House, and ask Senators to support the introduction of similar legislation.