PRESERVATION ACTION LEGISLATIVE UPDATE
 



LEGISLATIVE UPDATE
VOLUME 23, NUMBER 1
JANUARY 03, 2020

Analysis of Historic Tax Credit Report Shows Continued Economic Value of the Credit

Persimmon Lofts in Peoria, Illinois
A new analysis from Novogradac of the National Park Service's Annual Report on the Economic Impact of the Historic Tax Credit, shows the continued value of the credit. The report estimates that the Historic Tax Credit (HTC) resulted in the creation of 129,000 jobs in fiscal year 2018, which is up from 107,000 jobs in fiscal year 2017. According to the National Park Service, the HTC has created 2.68 million jobs through the life of the program.

In addition to job creation, the report showed increases in the gross domestic product (GDP), income, economic output, and tax receipts for the communities that took advantage of the HTC. According to the report, in fiscal year 2018 historic rehabilitation expenditures resulted in $5.4 billion in income, $14.4 billion in output, $7.4 billion in GDP, and $2.0 billion in taxes. 

More than just the economic impact, the report also shows the HTC frequently benefits smaller communities and the neediest communities. According to the report, more than a third of HTC projects were in communities with less than 100,000 people and 75% of projects were in economically distressed areas.

Overall the HTC continues to demonstrate a substantial economic benefit, all while preserving out historic resources and generating more in tax revenue than the cost of the program. Legislation currently in the House and Senate that would make several changes to improve and enhance the tax credit continues to gain steam. The Historic Tax Credit Growth and Opportunity Act (H.R 2825, S. 2615) would increase the credit from 20% to 30% on projects less than $3.75 million and eliminate the HTC basis adjustment requirements. Urge your members of congress to cosponsor the HTC-GO Act today!
National Trust for Historic Preservation Seeks Nominations for the National Preservation Awards

The National Trust for Historic Preservation is currently seeking nominations for the 2020 National Preservation Awards to be presented at the Past Forward 2020 Conference in Miami. The annual awards recognize exceptional individuals, nonprofit organizations, public agencies and corporations who have made outstanding contributions to their communities through preservation. 

The 2019 National Preservation Awards recognized Ruth J. Abram, Tyrell Anderson, the Longfellow Bridge in Boston, Unity Temple in Illinois, South Street Landing in Rhode Island, Apollo Mission Control Center in Texas, Historic Denver Inc., Taliesin Preservation, Sen. Lamar Alexander (R-TN), and Sen. Tom Udall (D-NM).

Nominations for the 2020 National Preservation Awards are due by February 3, 2020. Check out the guidelines for each award category for more information on submitting a nomination. Submit your nominations today!
African American Cultural Heritage Action Fund Accepting Applications

The National Trust for Historic Preservation is currently accepting applications for their African American Cultural Heritage Action Fund grant program. These grants are designed to advance ongoing preservation activities for historic places such as sites, museums, and landscapes representing African American cultural heritage. Since establishing the grant program in 2017, the National Trust has awarded $2.7 million to 38 projects across the country.

This year the grants will range between $50,000 to $150,000. There is a two-step process to receive a grant. The first step is to submit a letter of intent by January 15, 2020, if accepted, a full application will be requested. Grant awards are expected to be announced by July. Lean more!
Save the Date: National Historic Preservation Advocacy Week Returns March 10-12!

Start making your plans to attend National Historic Preservation Advocacy Week 2020. Advocacy Week returns March 10-12 at the Kimpton Hotel Palomar in Washington, DC. This is our annual opportunity to have a mass impact on policy makers in Washington in support of critically important historic preservation programs and sound preservation policy.

Preservation Action and the National Conference State Historic Preservation Officers organize our industry's Advocacy Week each year, bringing over 250 preservationists to Washington, DC to promote sound federal preservation policy and programs. Together with a cohesive message in support of preservation-positive legislation we can ensure a strong future for the federal historic preservation program.

Make Your Hotel Reservations Today

Take advantage of the special $274/night rate at the Kimpton Hotel Palomar. Make your reservations by calling 1-877-866-3070 and refer to room block "NCSHPO March 2020" or  visit the online portal. Th e cut-off date for this rate is  February 08, 2020.

Full event registration will be available next week! Stay tuned for more information. Help us spread the word.  Share the Advocacy Week Save the Date with your networks today!

Preservation Action
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Preservation Action is the only national  non-profit dedicated exclusively to lobbying for the best preservation policies at the federal level. We seek to make historic preservation a national priority by advocating to all branches of government through a grassroots constituency empowered with information and training.