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Legislation to Establish a State Historic Tax Credit for Housing Introduced in New Hampshire
Historic Preservation Blog from PreservationDirectory.com -
Contributed By: Preservation Action
Email The Author: jg@nhpreservation.org
Website: https://www.nhpreservation.org/blog/nh-tax-credit-proposal-2023

From Preservation Action:

Legislation was recently introduced in New Hampshire to establish a state historic tax credit for housing. SB 364 would provide a 65% credit against three state business taxes with a $10 million annual cap. The bill would also make a $15 million appropriation in the InvestNH Fund to support affordable housing. For properties to receive the credit they would need to be listed on or eligible for listing on the state or national register of historic places. The credit would specifically focus on rehabilitating historic structures to create housing units.

The bill had its first hearing in the New Hampshire Senate Ways and Means Committee earlier this month, where it received strong testimony from housing and historic preservation supporters. Advocates noted the success of state historic tax credit programs in nearby states like Maine and additional impacts like job growth, and conserving energy resources that could come from this bill. 

Check out the New Hampshire Preservation Alliance to learn more about the proposal and find out how you can take action!

Learn More: https://www.nhpreservation.org/blog/nh-tax-credit-proposal-2023

 


Posted: January 21, 2024
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Unless noted, the thoughts and opinions expressed in the article are solely that of the
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