Thank you Governor Cuomo and NYS Legislature!
The New York State budget was passed this morning and included the Preservation League’s request for a reauthorization of the NYS Historic Tax Credit through 2024, protection from the changes to the Federal Historic Tax Credit, and a transition window for eligible census tracts.
Of particular interest to Historic Tax Credit investors, the NYS budget does not include the Governor’s previously proposed deferral of tax credits over $2 million. Please take a moment to thank Governor Cuomo and your NYS Assemblymember and Senator.
The NYS Historic Tax Credit has sparked significant private investment across New York State. Thanks to our NYS Historic Tax Credit, New York now leads the country in economic impacts of Historic Tax Credit-related investment. The reauthorization of this program by Governor Cuomo and the NYS Legislature will ensure that projects currently in the pipeline for investment and rehabilitation continue to move forward. Protecting the NYS Historic Tax Credit from changes to the Federal Historic Tax Credit allow the program to maintain its vitality so that our state can continue to see a strong return on its tax credit investment. Thank you Governor Cuomo and the NYS Legislature, because of your initiative, the NYS Historic Tax Credit will continue to catalyze reinvestment in the urban cores, downtowns and main streets of communities in every corner of New York State.
Senator David J. Valesky (D-Oneida) and Assemblywoman Carrie Woerner (D-Round Lake) led the way toward this important victory with their bills seeking the credit extension and federal decoupling. Senators Catharine Young, Timothy Kennedy, and Thomas O’Mara co-sponsored the Senate legislation, while Assemblymembers Donna Lupardo, Andrew Goodell, John McDonald, Patricia Fahy, William Magnarelli, Stephen Hawley, and Barbara Lifton co-sponsored in the Assembly.
The New York State budget was passed this morning and included the Preservation League’s request for a reauthorization of the NYS Historic Tax Credit through 2024, protection from the changes to the Federal Historic Tax Credit, and a transition window for eligible census tracts.
Of particular interest to Historic Tax Credit investors, the NYS budget does not include the Governor’s previously proposed deferral of tax credits over $2 million. Please take a moment to thank Governor Cuomo and your NYS Assemblymember and Senator.
The NYS Historic Tax Credit has sparked significant private investment across New York State. Thanks to our NYS Historic Tax Credit, New York now leads the country in economic impacts of Historic Tax Credit-related investment. The reauthorization of this program by Governor Cuomo and the NYS Legislature will ensure that projects currently in the pipeline for investment and rehabilitation continue to move forward. Protecting the NYS Historic Tax Credit from changes to the Federal Historic Tax Credit allow the program to maintain its vitality so that our state can continue to see a strong return on its tax credit investment. Thank you Governor Cuomo and the NYS Legislature, because of your initiative, the NYS Historic Tax Credit will continue to catalyze reinvestment in the urban cores, downtowns and main streets of communities in every corner of New York State.
Senator David J. Valesky (D-Oneida) and Assemblywoman Carrie Woerner (D-Round Lake) led the way toward this important victory with their bills seeking the credit extension and federal decoupling. Senators Catharine Young, Timothy Kennedy, and Thomas O’Mara co-sponsored the Senate legislation, while Assemblymembers Donna Lupardo, Andrew Goodell, John McDonald, Patricia Fahy, William Magnarelli, Stephen Hawley, and Barbara Lifton co-sponsored in the Assembly.
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