Help Pass Historic Preservation Incentives in Pennsylvania
Encourage Pennsylvania Legislators to Pass HB 221
Background
HR 221, the Historic Preservation Incentives Program, would provide incentives to buyers and sellers of historic homes, homes in historic neighborhoods, or commercial properties in downtown areas throughout Pennsylvania when they are rehabilitated for reuse. Passing this legislation is crucial to increasing the Commonwealth's historic and economic dividends.
In order to implement the grants and tax credits in HB 221, a line item in the state's 2008-2009 budget is necessary. Budget negotiations are expected to wrap-up on July 1st, so it is critical your legislators hear from you soon on this important issue!
Action Steps
- Contact your Senators and encourage them to support HB 221.
- Contact your House Members and Senators and encourage them to include a line item in the state's 2008-2009 budget for the $5 million residential grants and $10 million commercial property tax credits in HB 221.
- Contact Governor Rendell and ask for his support on HB 221.
Talking Points
The Ask
- Please pass HB 221 and ensure that the funding for the commercial tax credit and residential homeowner grant program are included in the budget.
Legislative Status
- HB 221 (PN 4000) was passed unanimously by the House and is now in the Senate. It just passed through the Community, Economic and Recreational Development Committee, and is now headed to the Senate Appropriations Committee. It must pass through that Committee before it can be considered by the full Senate.
Goals of the Legislation
The bill provides incentives to buyers and sellers of historic homes, homes in historic neighborhoods, or commercial properties in downtown areas when they are refurbished and used again.
- The residential program provides grants, with a maximum of $15,000 per project.
- The commercial component is a tax credit for qualified commercial properties, with a maximum of $500,000 per project per year.
Value of the Legislation
- Preserves the heritage of commercial and residential building sectors throughout Pennsylvania.
- Offers true economic value through private investment in reusing historic buildings.
- Because it sets a priority for Main Street and Elm Street programs, helps to revitalize communities, reduce blight, increase property values and tax revenues, and add new jobs to downtown business districts.
- Could be combined with an existing federal credit to create an even greater incentive to rehab. Additionally, federal rehab credits can be combined with other incentive programs, such as the low-income housing credit and the New Markets Tax Credit, to being even more value to preservation.
- Indicates that Pennsylvania is genuinely committed to the preservation of its architectural legacy for future generations, and puts Pennsylvania in line with the 28 other states in the nation that have historic tax credits.
Although there are many champions of the bill, the key legislator is Rep. Tom Tangretti, who has worked tirelessly for passage of this bill, receiving overwhelming support in the House with a vote of 199-0 last year.
Funding Needed
The funding need is for a total of $15 million ($5 million for the residential grants, and $10 million in tax credits for the commercial properties). We are requesting that the Governor and the Legislature agree on this line item as part of the 2008-09 budget. The budget is currently under negotiations, and due July 1, 2008.
