State Historic Tax Credits to End, UNLESS…

We received word this evening that the State Historic Tax Credit Bill will be taken up by the House Ways and Means Committee on MONDAY, MAY 9, 2011. If you have benefited from the State Historic Preservation Tax Credits (S-HTC; residential or commercial), MCNO urges you to call the members of the House and Senate Committees scheduled to vote on the Bill can move this Bill forward provided below who can move these bills forward. As it stands now, the S-HTC expires at the end of this year.
House Ways and Means Committee and Louisiana State Senate Revenue and Fiscal Affairs Committee Contact
These tax credits provide a powerful incentive for property owners of blighted buildings to rehabilitate rather than demolish historic structures. They have been very valuable in Mid-City and other areas. The renovation of the Saenger Theater is currently threatened because of the uncertainty over these tax credits. They could be the key to unlocking the potential of Big Charity. They return more than 3 dollars for every dollar the state spends and letting them expire would be “pennywise and pound foolish.”
Please, take a moment from your busy days between now and Monday, May 9th to make a few calls or send some emails. Please forward this to anyone you know who wants to see historic blighted properties revitalized. New Orleans area folks are most important as we are their constituency.
Click the link below to read the MCNO Letter of Support for speaking points and more information.
State Historic Tax Credits


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