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Legislation & Public Policy Issues in Preservation     


Legislation & Public Policy Issues in Preservation
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Georgia Expands State Historic Preservation Tax Credit
Historic Preservation Blog from PreservationDirectory.com - Georgians for Preservation Action, Georgia Trust for Historic Preservation
Contributed By: The National Trust for Historic Preservation's Department of Public Policy
Email The Author: pr@nthp.org
Website: http://www.nthp.org

On May 14th, Georgia Governor Sonny Perdue signed HB 851 which strengthened the state’s rehabilitation tax credit. Through the leadership of Georgians for Preservation Action and the Georgia Trust for Historic Preservation, preservationists won an increase in the program’s per-project cap to $100,000 per residential and $300,000 per commercial project (up from $5,000 per building) and increases the tax credit to 25% of the total project cost (up from 10% for residential and 20% for commercial rehabilitation projects). Of the expanded program, Clay Boardman of Augusta Capital LLC., said “It is a downright shame to watch the reinvestment dollars flow to the states with better incentives for preservation. Now, I think we’ll start to see the much-needed investment in Georgia’s abandoned historic industrial buildings and textile mills.”

For more details, visit http://www.georgiatrust.org and to see text of signedbill visit http://www.legis.state.ga.us/legis/2007_08/fulltext/hb851.htm.

Reprinted by permission of the Public Policy Department of the National Trust


Keywords: Georgians for Preservation Action, Georgia Trust for Historic Preservation

Posted: May 29, 2008
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