Last week, the Main Street Historic Tourism and Revitalization Act (SB 1166, HB 1183) was reintroduced in the Florida state House and state Senate. This bill would establish a 20% state historic tax credit toward qualified rehabilitation expenses with an additional 10% credit available for projects in the accredited Main Street Program. The program would have a $25 million annual cap and if passed, would take effect starting on July 1st. This is similar to legislation introduced last year, but failed to get across the finish line in the last session. If passed, Florida would become the 38th state with a state historic tax credit program
Our partners at the Florida Trust for Historic Preservation note this bill would help revitalize Florida Main Street communities, promote heritage tourism, generate well-paying jobs and revive vacant or underused historic structures. Learn more and find out how you can take action today!
Learn More: https://www.floridatrust.org/post/florida-legislative-session-2024-begins
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