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Senate advances historic-preservation tax credit despite fiscal concerns
Summary
Senate Bill 165 would create a 20% tax credit (for qualified rehabilitation costs over $10,000) for certified historic buildings; senators debated a $450,000 fiscal note and possible amendments to narrow scope; bill advanced to third reading, reported as 18–7.
Senate Bill 165, proposing tax incentives to encourage rehabilitation of certified historic properties, was presented on the Senate floor and advanced to third reading on Feb. 12, 1992.
Sponsor Senator Beatty described SB 165 as an incentive program allowing a tax credit equal to 20% of qualified rehabilitation expenditures costing more than $10,000 for certified historic buildings (those listed…
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