Call to Action: The Federal Historic Tax Credit
The Federal Historic Tax Credit (HTC) program is an effective means of accomplishing the goals of historic preservation and economic development and it has had a real and meaningful impact on our community. Yesterday, our friends at The National Trust for Historic Preservation and Preservation Virginia shared with us that the HTC is threatened and is unlikely to be included in House Ways and Means Committee Chairman Kevin Brady’s Federal tax reform bill scheduled to be released on November 1.
Historic Richmond has joined hundreds of organizations nationwide in a national sign-on letter. Today, we urge you to help us make a difference.
Please write and call your legislators TODAY and ask that they keep the Historic Tax Credit as they reform the nation’s tax code. Explain to your legislators that Congress should retain and enhance the Historic Tax Credit because the HTC sustains a skilled-jobs industry, attracts private investment to our smaller communities, and preserves our nation’s unique heritage. You can enhance and amplify this message by delivering a copy of the national sign-on letter to your legislator.
A list of Virginia’s Congressional delegation, with their Washington DC phone numbers is below:
Rep. Robert J. Wittman, 202-225-4261
Rep. Scott Taylor, 202-225-4215
Rep. Robert C. Scott, 202-225-8351
Rep. A. Donald McEachin, 202-225-6365
Rep. Thomas Garrett, 202-225-4711
Rep. Bob Goodlatte, 202-225-5431
Rep. Dave Brat, 202-225-2815
Rep. Don Beyer, 202-225-4376
Rep. Morgan Griffith, 202-225-3861
Rep. Barbara Comstock, 202-225-5136
Rep. Gerald E. “Gerry” Connelly, 202-225-1492
Sen. Mark Warner, 1-877-676-2759
Sen. Timothy Kaine, 202-224-4024
Thank you for your support of both the Federal and Virginia Historic Tax Credit programs!
From Preservation Virginia:
In breaking news from the National Trust for Historic Preservation, we’ve learned that it is unlikely that the Historic Tax Credit (HTC) will be included in Ways and Means Committee Chairman Kevin Brady’s tax reform bill set to be released on November 1.
In early October, we worked with the National Trust for Historic Preservation and a number of you to ask members of the Virginia delegation to sign on to a “Dear Colleague” letter sponsored by Representative McKinley (R-WV) and Representative Blum (R-IA) that asks for the Ways and Means Committee to retain the HTC in their tax reform bill. Virginia Representatives Comstock, Garret and Goodlatte added their signatures to the letter. However, Chairman Brady is not wavering from the leadership plan for tax reform that eliminates all credits with the exception of the Low-Income Housing Tax Credit and the R&D Tax Credit.
Take Action Today—below is a message from Renee Kuhlman, director of policy outreach at the National Trust for Historic Preservation. She outlines 5 steps to help ensure the inclusion of this program in tax reform discussions.
Stay tuned! We expect for the economic studies of Virginia’s Historic Rehabilitation Tax Credit program to be released soon and in time for the upcoming General Assembly session.
Thank you for your continued support of the federal and state historic tax credit programs.
- Write and call your legislators and ask that they keep the Historic Tax Credit as they reform our nation’s tax code. Encourage board members and your community members to also Take Action and make their views known.
- Ask city councils in your city and state to pass resolutions calling on Congress to keep this economic development tool in our toolbox and get media attention for your local leaders who are doing so.
- Invite district staff to tour your historic districts and deliver the national sign-on letter signed by hundreds of organizations along with the state map of projects.
- Gain media for the threat to the HTC that calls on your specific legislators to take action. Ask that they ensure the HTC remains in a reformed tax code by getting in either the House or the Senate tax reform bill.
- Share this update!
Review the recently released Annual Report on the Economic Impact of the Federal Historic Tax Credit for Fiscal Year 2016 for a quantitative analysis of the success of the federal historic tax credit (HTC). The report was commissioned by the National Park Service and produced by Rutgers University with assistance from the National Trust Community Investment Corporation.