Iowa Legislators Approve Increase in Historic Tax Credits
Thanks to advocates in Iowa, lawmakers decided to increase the cap on the state's highly-effective tax credit for historic preservation. The Iowa House and Senate have now voted to approve raising the annual cap from $20 million to $50 million, which – when approved by Governor Chet Culver – will have a tremendous impact on preservation and revitalization projects across the state.
What Happened?
On April 17, 2009, the Senate approved SF 481 in a 48-0 vote, and the following Monday, the House followed suit with an 86-3 vote on HF 819. This overwhelming show of support means that legislators recognize the value of historic tax credits to Iowa's economy.
What's Next?
After Governor Culver signs the bill into law, projects like the rehabilitation of the Roshek Department Store in Dubuque and the Younkers Building in Des Moines will now be feasible, along with projects on the waiting list from across the state, including Sioux City, Fort Dodge, Waterloo, and in O'Brien, Fayette and Shelby counties.
What You Can Do
Thank your legislators for supporting HF 819 and SF 481!
- Thank them for their support of historic preservation and economic revitalization in Iowa's rural areas, small towns and big cities.
- Applaud their recognition that historic preservation is both sustainable and job creating, and leverages private investment and federal funds.
- Let them know how important preservation is to you, and what a difference the increase in tax credits will make to your community.
Additional Information
For additional information, please contact Renee Kuhlman of the National Trust for Historic Preservation or Jill Connors of the Iowa Historic Preservation Alliance.
