The Revitalize Main Street Act is set to be introduced this month in Oregon. This legislation would create a state Historic Rehabilitation Fund to help offset the costs of restoring historic commercial buildings. The Historic Rehabilitation Fund would provide a 25% rebate for certified rehabilitation of historic commercial buildings and require a $10,000 investment.
The Revitalize Main Street Act would make Oregon the 35th state offering a historic rehabilitation tax credit or incentive. According to an economic impact study, the Oregon tax incentive program could create a net increase of $35.8M in state GDP from just a $10.6M investment by the state by 2018.
Restore Oregon is leading the effort to introduce and enact the Revitalize Main Street Act. Visit their website to find out more information on the legislation and how you can help!
Originally posted by Preservation Action at http://www.preservationaction.org/114th-congress-nc-htc-petition-historic-incentive-oregon-advocacy-week
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