National Trust for Historic Preservation Launches National Legislative Campaign to Create Jobs, Save Historic Buildings and Revitalize Communities
Posted February 6, 2012 | Contact email@example.com or 202-588-6141
The National Trust for Historic Preservation has launched a national legislative campaign to save and improve the federal historic tax credit (HTC). In addition, Sen. Ben Cardin (D-MD) will introduce today bipartisan legislation, the “Creating American Prosperity through Preservation” (CAPP) Act, that would enhance the HTC and make it easier for Americans to use. Sen. Olympia Snowe (R-ME) is co-sponsoring the legislation with Sen. Cardin. The following is a statement by Stephanie K. Meeks, president of the National Trust for Historic Preservation:
“The National Trust for Historic Preservation strongly supports saving and enhancing the federal historic tax credit. This is one of the most important full-scale legislative campaigns in National Trust’s 63-year history. We are committed to this issue because the HTC is, without a doubt, the United States’ most significant federal financial commitment to historic preservation. To put it simply, it is just too important a job creating and community revitalizing tool to lose. With the legislative changes proposed by the CAPP Act, the HTC will be even more effective in keeping America’s historic communities vibrant for generations to come.”
BACKGROUND ON THE FEDERAL HISTORIC TAX CREDIT
In its 32-year history, the federal historic tax credit (HTC) has helped create 2 million jobs, save 37,000 vacant or underutilized buildings and attract $90 billion in private investment. By adapting warehouses, schools, churches and other historic resources to meet modern needs for housing, arts space, offices and community centers, the HTC creates skilled jobs, revitalizes communities and fuels local economies.
BACKGROUND ON THE CREATING AMERICAN PROSPERITY THROUGH PRESERVATION (CAPP) ACT
The Creating American Prosperity throughPreservation (CAPP) Act positions the federal historic tax credit to be an even greater job creation and economic development engine. The CAPP Act will make the historic tax credit easier to use and more accessible to strategic projects that create quality jobs, revitalize “Main Street,” generate high-impact community benefits and promote energy efficiency.