Jan 30

Historic Rehabilitation Tax Credit Program Threatened

**UPDATE**

Thank you to all who called your legislator to voice your support for the Historic Rehabilitation Tax Credit Program as an effective means of accomplishing the goals of historic preservation and economic development in communities throughout the Commonwealth. Many thanks to Preservation Virginia for leading the advocacy efforts of preservationists across the state on this issue!

“Va. Senate panel kills Sen. Glen Sturtevant’s bill to cap and phase out historic rehab tax credits”Richmond Times Dispatch

TAKE ACTION NOW!

Historic Richmond urges you to take action now on SB 1034, SB 1485, and SB 1540 before the General Assembly. These pieces of legislation propose significant changes that would harm the very successful historic rehabilitation tax credit program.

  • SB 1034 (Patron: Senator Janet D. Howell) would, for taxable years beginning on and after January 1, 2017, limit the amount of the Historic Rehabilitation Tax Credit that may be claimed by each taxpayer to $5 million a year.
  • SB 1485 (Patron: Senator Glen H. Sturtevant, Jr.) would add a sunset date of January 1, 2022 to the Historic Rehabilitation Tax Credit.
  • SB 1540 (Patron: Senator Glen H. Sturtevant, Jr.) would plan an aggregate cap on the Historic Rehabilitation Tax Credit and then reduce that aggregate cap over a ten year period until 2027, when no credits would be issued for this program.

The Senate Finance Committee meets tomorrow, Tuesday, January 31, at 9:00 a.m.

 Take Action Now:

  • If you are a constituent of any member of the Senate Finance Committee, please call him or her today to express your opposition to SB 1034, SB 1485 and SB 1540 – measures that will impede the protection of historic resources for future generations. (Contacts for Senators provided below).
  • If you are not a constituent of any member of the Finance Committee in the Senate, call your Senator today to express your opposition to SB 1034, SB 1485 and SB 1540. (Contacts for Richmond area Senators provided below)

This legislation will impact current and future projects, it will hinder the preservation of Virginia’s precious historic resources for future generations.

We will keep everyone informed of further developments and opportunities to reach out to legislators on preventing changes to this vital preservation program that is a proven job and revenue creator for the Commonwealth.

 

Senate Finance Committee

Senator Thomas K. Norment Jr: (804) 698-7503 district03@senate.virginia.gov
Senator Emmett W. Hanger, Jr: (804) 698-7524 district24@senate.virginia.gov
Senator Janet D. Howell: (804) 698-7532 district32@senate.virginia.gov
Senator Richard L. Saslaw: (804) 698-7535 district35@senate.virginia.gov
Senator L. Louise Lucas: (804) 698-7518 district18@senate.virginia.gov
Senator Stephen D. Newman: (804) 698-7523 district23@senate.virginia.gov
Senator Frank M. Ruff, Jr: (804) 698-7515 district15@senate.virginia.gov
Senator Frank W. Wagner: (804) 698-7507 district07@senate.virginia.gov
Senator Ryan T. McDougle: (804) 698-7504 district04@senate.virginia.gov
Senator Jill Holtzman Vogel: (804) 698-7527 district27@senate.virginia.gov
Senator Charles W. Carrico, Sr.: (804) 698-7540 district40@senate.virginia.gov
Senator Mark D. Obenshain: (804) 698-7526 district26@senate.virginia.gov
Senator George L. Barker: (804) 698-7539 district39@senate.virginia.gov
Senator Siobhan S. Dunnavant: (804) 698-7512 district12@senate.virginia.gov

Richmond Area Senators

Senator Amanda F. Chase: (804) 698-7511 district11@senate.virginia.gov
Senator Rosalyn R. Dance: (804) 698-7516 district16@senate.virginia.gov
Senator Siobhan S. Dunnavant: (804) 698-7512 district12@senate.virginia.gov
Senator Jennifer L. McClellan: (804) 698-7509 district09@senate.virginia.gov
Senator Ryan T. McDougle: (804) 698-7504 district04@senate.virginia.gov
Senator Glen H. Sturtevant, Jr.: (804) 698-7510, district10@senate.virginia.gov