PreservationDirectory.com
PreservationDirectory.com
 
home
preservation events & conferences
press releases & job postings
› main menu
› article guidelines
› submit an article
grants & funding sources
heritage marketing services
preservation library:
articles, regulations & policy
preservation organizations
& resources
museums & historic structures
historic real estate
preservation businesses,
products & services
historic lodging:
inns, b&b's, hotels
historic tours
preservation general resources
historic photo galleries
preservation bookstore
frequently asked questions
about us
join email list
contact us
site map


member login

Featured
Property For Sale
View more information about this historic property for sale in Jacksonville, Florida

Restored Three Story Queen Anne Home

Jacksonville, FL
PreservationDirectory.com
30 Bromley Road
Pittsford, NY 14534
Phone: (503) 308-0500

Email Us!
foo




ArchiveInABox

WeddingGownPreservationKit.com

Mad Dog Primer

University of Oregon



PreservationDirectory.com

General Interest & Miscellaneous News     


General Interest & Miscellaneous News
Back to Press Releases Print   Submit an Article
New Jersey Becomes 39th State to Establish a State Historic Tax Credit
Historic Preservation Blog from PreservationDirectory.com -
Contributed By: Preservation Action
Email The Author: mail@preservationaction.org
Website: http://www.preservationaction.org

From Preservation Action:

Last month, New Jersey Governor Phil Murphy, signed the Historic Property Reinvestment Act into law, officially creating a state historic tax credit. The bill created a 40% tax credit for qualified rehabilitation expenses that can be applied toward business and insurance premium taxes. The credit has a $50 million program cap and a $2 million per project cap. This officially makes New Jersey the 39th state to establish a state level historic tax credit program!

The program does include some restrictions on the credit, such as a requirement that the project most demonstrate that the credit is strongly needed in order to finance the project. New Jersey is also the first state to incorporate a prevailing wage requirement. Advocates are working to establish an appropriate threshold for the prevailing wage requirements, so it doesn't keep smaller scale projects from being able to take advantage of the credit.

Congratulations to all of the preservation advocates across New Jersey and organizations like Preservation New Jersey for their tireless efforts to get this important bill across the finish line.


Posted: March 1, 2021
Back to Press Releases Print   Submit an Article


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.
   



PreservationDirectory.com | preservation events & conferences | press releases & job postings | organizations & resources
museums & historic structures | historic real estate | preservation businesses, products & services | historic lodging
historic tours | preservation general resources | historic photo galleries | preservation bookstore | preservation library
frequently asked questions | about us | join email list | heritage marketing services | contact us | site map

© Copyright 2021 - PreservationDirectory.com | website by Stolutions