Maryland Legislators Fund Historic Tax Credit Program But Fail to Enhance and Re-Authorize
Although advocates in Maryland made a sound case to lawmakers to re-authorize and enhance Maryland's highly-effective tax credit for historic preservation, Governor Martin O'Malley's proposed legislation (HB309/SB258) to establish the historic tax credit as a true credit and provide up to $100 million in credits over a five-year period failed to advance.
What Happened?
Numerous amendments were made to the bill in the House Ways and Means Committee before it was sent to the Senate Budget and Taxation Committee. In the end, the Budget and Taxation Committee was not able to pass the amended legislation late in the session.
During the 426th general session, legislators grappled with the fact that the state's revenues were down more than expected – almost a $500 million shortfall. In the end, a $13.8 billion operating budget was passed, and legislators continued the tax credit program for historic preservation in its current form with an approved budget of $7.7 million for FY2010.
What You Can Do
Letters, e-mails and phone calls to legislators made a real difference this year. However, support for this historic preservation incentive is still needed. Between now and the beginning of next year’s general session, we encourage you to gain the support of your representatives by highlighting preservation projects in your community and stressing the importance of the above programs.
Additional Information
For additional information, please contact Renee Kuhlman of the National Trust for Historic Preservation or Jessica Feldt of Preservation Maryland.
