Reps. Kelly and Blumenauer Introduce New HTC Legislation

Rep. Mike Kelly (R-PA 3rd District) and Rep. Earl Blumenauer (D-OR 3rd District) introduced new legislation (H.R. 3846) on October 28 that would increase the eligibility of many more historic buildings across the country to use historic tax credits and undertake more rehabilitation projects. Representatives Kelly and Blumenauer are joined by the following cosponsors: Representatives Pat Tiberi (R-OH), Charles Boustany (R-LA), Mike Turner (R-OH), Tom Reed (R-NY), Charlie Rangel (D-NY), Richie Neal (D-MA), Ron Kind (D-WI), and John Larson (D-CT). The following is a statement from John Leith-Tetrault, chairman of the Historic Tax Credit Coalition:

“This bill represents what we hope the future of the Historic Tax Credit will be – a valuable, efficient, economically balanced development incentive that continues to make our Main Streets and our urban cores places people seek out to live and work. The changes this bill makes to the program shifts its effective results to smaller communities while keeping the incentives that have allowed iconic buildings across the country to be rehabilitated. The track record of the HTC is on display in every Congressional District and these new provisions will strengthen it for another thirty years.

We thank the sponsors – especially Mr. Kelly and Mr. Blumenauer – for their hard work and their dedication to preservation. We look forward to working with them to get this bill passed.”