Save the Federal Historic Tax Credit (HTC)
The U.S. Congress is working to reform the tax code, and the historic tax credit is on the chopping block.
The Historic Tax Credit (HTC) encourages private investment in the rehabilitation of historic buildings. The credit attracts private capital — $131 billion since inception — to revitalize often abandoned and underperforming properties that have a financing gap between what banks will lend and the total development cost of the transaction.
The Preservation League strongly supports the successful and longstanding federal policy of incentivizing the rehabilitation of our historic buildings. Incorporated into the tax code more than 35 years ago, the historic tax credit (HTC) is a widely used redevelopment tool for underutilized properties, from inner cities to small towns across the country. The credit is the most significant investment the federal government makes to preserve our nation's historic properties.
Please sign below to add your name to the list of New Yorkers who are asking their representatives in Congress to support funding for historic preservation programs – so our past has a future.