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Georgia committee hears bill to raise cap on historic rehabilitation tax credit
Summary
House Bill 376, introduced as LC501202S, would raise the cap on Georgia’s historic rehabilitation tax credit. Supporters say the credit has catalyzed downtown redevelopment, with testimony that the incentive spurred about $800 million in private investment over five years.
Lawmakers held a first hearing on House Bill 376 (LC501202S), a proposal to raise the cap on Georgia’s historic rehabilitation tax credit, a program supporters say has helped revitalize downtowns across the state since a state credit was established in 2002.
Speaker 5 told the committee the program has been "highly successful" and that the cap had already been met for the program set to expire in 2029. Ben Sutton, senior director of preservation for the Georgia Trust, testified in support and said the incentive "spurred over $800,000,000 of private investment across the state" in the last five years.
Representative Anissa Jones, who described herself as a direct beneficiary of the program for a project at 419 Cherry Street in Macon, told the committee the credits are “not simply incentives. They are catalyst for economic development, small business growth, and community pride.” She urged the committee to support the bill so similar projects remain financially viable.
Committee members asked for more data and for proposed text changes. The sponsor said additional drafting adjustments were expected before the next meeting and that stakeholders would be invited to provide input. No vote was taken; the bill remains in initial committee stages.
