Advocacy Alert: Support Reauthorization of the Sustainable Communities Tax Credit

Advocacy Alert: Support Reauthorization of the Sustainable Communities Tax Credit

This week is a crucial time for historic preservation in Maryland. One of our most powerful tools, the Sustainable Communities Tax Credit (HR510), is being considered for reauthorization and enhancement this Friday, February 14th. It is vital that you show your support for reauthorization by sending letters to the House Ways and Means Committee members that you know or represent your community.

Please read the important message below from Elizabeth Hughes, Deputy Director/Deputy State Historic Preservation Officer, Maryland Historical Trust, for everything you need to know.

To learn more about the Maryland preservation agenda for the 2014 General Assembly, read MAHDC’s most recent edition of Maryland’s Historic Districts.


The Maryland Historical Trust is asking that Historic Preservation Commissions and local governments share their support of HB510 – which would reauthorize and alter the Sustainable Communities Tax Credit.   This tax credit has incentivized the rehabilitation of many historic properties in existing communities across the state. Importantly, proposed changes to the program included in this bill would make it a much more effective tool for the redevelopment of small commercial properties in Main Street communities.

See below for more information and instructions for whom to address a letter of support: Delegate Shelia Hixson who chairs the Ways and Means Committee or Ways and Means Committee members from your area, as well as suggested message points and a draft letter of support.

Please fax or email your support letter to jenn.aiosa@maryland.gov or fax to 410-514-7678 by close of business on Thursday, February 13. Once we [MHT] receive your letter we will arrange to have copies made and delivered to subcommittee members.

MORE INFO:

HB510, which would reauthorize and alter the Sustainable Communities Tax Credit Program, includes a new provision that would create a “small commercial” credit category available to projects taking place in designated “Sustainable Communities.”  This provision would allow small commercial projects, commercial use or mixed use (commercial and residential combined), to receive tax credits comparable to the owner-occupied tax credit. This category of tax credit is designed to assist small business owners with small rehabilitations such as a new roof, façade improvement, rehab of apartments above business for rental income, etc.  The credit caps at $50,000 and rehabilitation expenditures must be less than $500,000 (same as the owner-occupied credit).  This category of credit is limited to historic rehabilitations in Sustainable Communities.

Sustainable Communities Tax Credit Alert

Sustainable Communities Tax Credit Summary

Sustainable Communities Tax Credit Draft Support Letter

 

 

By |2016-12-07T14:44:05+00:00February 10th, 2014|Partner Organizations, Tax Credits|Comments Off on Advocacy Alert: Support Reauthorization of the Sustainable Communities Tax Credit