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Legislation & Public Policy Issues in Preservation     


Legislation & Public Policy Issues in Preservation
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Federal Rehab Tax Credit Expenditures Revised in President’s FY'09 Budget
Historic Preservation Blog from PreservationDirectory.com - historic and commercial rehabilitation tax credits, FY09 Budget, 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

The President’s FY’09 federal budget included new tax expenditure estimates for both the historic and commercial rehabilitation tax credits, which previously had been estimated at $200 million and $30 million annually. The new estimate for the cost of the credits to the Treasury is much higher, with the historic credit estimated to cost $2.46 billion for FY09-FY13. The year-to year breakout for the historic credit is the following: FY09: $440 million; FY10: $470 million; FY11: $490 million; FY12: $520 million; FY13: $540 million. The non-historic credit is scored at $200 million over the same five-year period at $40 million annually. It is important to note that this is the first time that the expenditure assumptions have changed in a number of years for the credits.

Reprinted by permission of the Public Policy Department of the National Trust


Keywords: historic and commercial rehabilitation tax credits, FY09 Budget, National Trust for Historic Preservation

Posted: February 9, 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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