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House advances bill expanding tax credits to rehabilitate historic commercial buildings
Summary
Lawmakers uncircled and passed HB 286 to extend existing historic residential rehabilitation tax credits to qualifying commercial buildings at least 50 years old, with an estimated capacity to assist roughly 50 projects per year; the bill passed 71–0 and will go to the Senate.
Representative Bennion opened debate on House Bill 286, describing it as an extension of an existing residential historic rehabilitation credit to commercial historic buildings that meet a minimum age (50 years) and a requirement of unique architectural features or historic significance. He said the program could serve "about 50 buildings per year" given qualification limits and a cap on the number of credits available.
Bennion cited a brochure showing an example renovation in historic downtown Midvale to illustrate the type of project the bill intends to assist. He characterized the measure as an incentive to help preserve and renovate historically significant commercial structures across Utah.
The House voted with the clerk reporting HB 286 received 71 yes votes and 0 no votes; the bill will be referred to the Senate for further consideration.
