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Committee advances historic tax credit bill to suspense; supporters say it spurs housing and preservation
Summary
AB 1265 would extend and expand California’s state historic tax credit, adding a bonus for projects that create or preserve affordable housing; the Revenue and Taxation Committee moved the bill to the suspense file and indicated it will be made a two‑year bill.
Assemblymember Haney presented AB 1265 as the Historic Building Tax Relief Act, which would extend the state historic tax credit through 2031 and add a 10% bonus credit for projects that create housing or retain existing affordable housing. Haney said the bill would incentivize converting vacant historic buildings to housing and mixed‑use developments.
Cindy Heitzman, executive director of the California Preservation Foundation, described past demand outstripping the program cap and said the credit “levels the playing field for older buildings that often face higher upfront cost for seismic safety, fire protection, and infrastructure upgrades.” Rita Cofield of the Getty Conservation Institute described community preservation projects and said the credit can be a catalyst for investment in modest, historically significant neighborhoods.
Committee action: The author and supporters were thanked by the committee; AB 1265 was referred to the suspense file and the chair noted the bill would be made a two‑year bill (housekeeping noted later in the hearing). No opposition witnesses were registered in the room at the time of the item; the bill will return for further fiscal review and to the Appropriations Committee as part of suspense-handling procedures.
Why it matters: Supporters argued the credit generates jobs and private investment while preserving community character and creating housing, including affordable units. The bill attempts to align preservation incentives with housing goals by prioritizing projects that retain or add affordable housing.
What’s next: AB 1265 will be held in suspense and treated as a two‑year bill; it will return to committee once fiscal issues and appropriations considerations are addressed.
