Action Needed on Tax Credits
Your voice can help make the New York State Rehabilitation Tax Credit program work. Last year the New York State Rehabilitation Tax Credit program for commercial properties took a significant step forward by allowing new national investors to invest their equity in New York State projects.
Unfortunately, the Legislature then imposed a deferred payout on the tax credit.
Recently, the New York State Senate voted to remove this deferral. You can help us, the Preservation League of New York State, and the National Trust for Historic Preservation convince Governor Cuomo and the Assembly to do the same.
Why this matters:
Removing the deferral will spur more rehabilitation projects, create more jobs and ensure that critical redevelopment projects in urban centers and small towns go forward.
How can you help?
Ask the Governor and Assembly to include the language of “Part CC of Senate Bill S.8211B” to restore the integrity of the State Rehabilitation Tax Credit program as an economic and community redevelopment tool.
Contact Governor Cuomo online (http://www.governor.ny.gov/contact/GovernorContactForm.php) or via phone: (518) 474-839
Contact Speaker Silver at the Assembly online (http://assembly.state.ny.us/mem/Sheldon-Silver/contact) or via phone at: (518) 455-3791
Thank Senate Majority Leader Skelos for including this program in the Senate budget bill online (http://www.nysenate.gov/senator/dean-g-skelos/contact) or via phone at: (518) 455-3171