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Senate Passes Revised Historic-Preservation Tax Credit After Reconsideration
Summary
Senators reduced the proposed historic-preservation tax credit's scope and fiscal exposure, then reconsidered an earlier defeat and approved the amended SB 165 (final recorded passage following roll-call).
Senator Lane Beatty sponsored SB 165, an economic incentive for historic-preservation work, and introduced floor amendments intended to narrow the program to residential historic homes and lower the tax-credit rate. The sponsor said the changes cut the fiscal note from an earlier estimate of roughly $450,000 to an estimated $10,000–$30,000 by excluding commercial property and reducing the credit rate.
Floor debate focused on fiscal trade-offs, program scope and likely uptake. Some senators questioned whether the credit would be widely used and whether offsets would be properly accounted for in the uniform school fund. Several members disclosed potential conflicts of interest where relevant.
The bill initially failed on a close vote (14 ayes, 12 nays, 3 absent) and was set aside. Senator Reese moved to reconsider; after additional discussion and a roll-call the Senate recorded 16 ayes, 10 nays and 3 absences and sent the amended bill to the House.
Sponsor Beatty and backers framed the bill as a narrowly targeted tool to preserve residential historic fabric, require substantial rehabilitation (minimum $10,000) and avoid large-scale commercial tax expenditures. Opponents cautioned about uncertain fiscal offsets and administrative complexity.
The Senate’s final action was to pass the amended measure and transmit it to the House for further action.
