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Funding, Tax Incentives, Grants & Awards for Preservation Projects     


Funding, Tax Incentives, Grants & Awards for Preservation Projects
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Minnesota Historic Tax Credit Reinstated & Extended
Historic Preservation Blog from PreservationDirectory.com -
Contributed By: Rethos Policy Institute
Email The Author: info@rethos.org
Website: http://rethos.org

The Minnesota House of Representatives and Senate have each passed an Omnibus Taxes bill that includes the reinstatement and extension of the state Historic Structure Rehabilitation Tax Credit! The final bill makes the HTC retroactive to the previous sunset date and extends it until June 30, 2030. The next stop is Gov. Tim Walz's desk, where he is expected to sign it.

Rethos has been advocating for an extension to the HTC since 2018. After weathering one set-back after another, we can hardly believe the news! THANK YOU to all of the individuals and organizations who have helped advocate for this critical tool for preserving unique places and promoting community vitality!

The Historic Tax Credit is one public policy that consistently has earned bipartisan and statewide support. Sen. John Jaskinski (R, Faribault) spoke to this on the Senate Floor as debate on the Omnibus Taxes bill wrapped up over the weekend. Please take a moment to thank your Legislator(s) if they cosponsored the HTC extension bills this session - House authors are listed here, and Senate authors are listed here. Please also thank each of the members on the Senate Taxes committee for their support, as well as Chair Gomez for including the HTC in the final Omnibus Taxes bill -in March, the Senate Taxes committee voted unanimously to extend the HTC, and the Senate's support was acknowledged by House Taxes Chair Rep. Aisha Gomez as part of the reason the Taxes Conference Committee was able to reach an agreement that included the HTC.

The Legislature is expected to wrap up the rest of the state's business & biannual budget and then adjourn by the end of the day today.

 


Posted: May 25, 2023
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