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Legislation & Public Policy Issues in Preservation     


Legislation & Public Policy Issues in Preservation
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Maryland Governor Signs Sustainable Communities Act Into Law
Historic Preservation Blog from PreservationDirectory.com - Sustainable Communities Act of 2010, Smart, Green and Growing Initiative, Maryland, Governor Martin O'Malley
Contributed By: The National Trust for Historic Preservation's Department of Public Policy
Website: http://www.preservationnation.org

Governor Martin O'Malley signed House Bill 475, the Sustainable Communities Act of 2010 on May 20th. The legislation, a major piece of Governor O'Malley's Smart, Green and Growing Initiative, also provides $10 million for the Sustainable Communities Tax Credit which replaces the former Maryland Heritage Structure Rehabilitation Tax Credit and authorizes a $50 million allocation for the state rehab credit over three years to provide predictability for both users of the program. The Governor had urged continuation of the tax credit since the start of the year, whose $347 million in state investment during the past 14 years has leveraged more than $1.5 billion in rehabilitation spending by property owners and developers.

In a new initiative to spur growth in the designated areas, non-historic commercial rehabilitations can receive up to 10 percent of the total tax credit allocation. Individually, the credit for non-historic commercial projects is 10 percent of rehabilitation costs and 20 percent for projects that meet eligibility for historic rehabilitations. The tax credit, which had been due to expire on June 30, 2010, is extended for four years by the the new law. Other highlights of the Maryland credit include a Green Building bonus –i.e., commercial projects that achieve LEED Gold certification or above are eligible for a 25% tax credit, as opposed to 20% for all other historic commercial projects.


Keywords: Sustainable Communities Act of 2010, Smart, Green and Growing Initiative, Maryland, Governor Martin O'Malley

Posted: May 23, 2010
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