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Maryland’s FY09 Budget Cuts Historic Tax Credit Program
Historic Preservation Blog from PreservationDirectory.com - Heritage Structure Rehabilitation Tax Credit program, Maryland, National 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

Maryland Governor Martin O’Malley’s recently released 2009 state budget contains a $10.3 million cut in the state’s highly successful Heritage Structure Rehabilitation Tax Credit program. The Governor's budget would fund the program at $14.7 million, whereas last year the General Assembly provided $25 million to incentivize rehabilitation. Last year, when the tax credit was due to sunset, Maryland preservationists successfully worked to extend the program through 2010, increase the single-jurisdiction limit to 75% with additional roll-over of unused funds from other jurisdictions, and expand the time to apply for the credit. On the budget side, the tax credit was funded at $25 million, instead of at the proposed $30 million level as advocated by preservationists.
Keywords: Heritage Structure Rehabilitation Tax Credit program, Maryland, National Trust for Historic Preservation

Posted: February 4, 2008
Unless noted, the thoughts and opinions expressed in the article are solely that of the
author and not necessarily the opinion of the editors of PreservationDirectory.com.
   



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