3 Ways to Advocate for the Historic Tax Credit

The Federal Historic Preservation Tax Incentive program, more commonly referred to as the Historic Tax Credit, is the federal government’s most significant contribution to historic preservation efforts. The Historic Tax Credit grants a 20% income tax credit to developers of certified historic, income-producing properties. Since its implementation in 1976, this program has helped preserve 42,293 properties and generated over $84 billion dollars in economic development. Despite its success, the current Administration and Congress recently released a revised tax reform that will ultimately exclude the federal tax credit if passed. However, supporters of the Historic Tax Credit still have time to work for its protection, but must start advocating immediately. If you live in South Carolina, two of our Congressmen serve on key committees that will be analyzing and debating tax reform this fall: Senator Tim Scott sits on the Senate Finance Committee and Rep. Tom Rice sits on the House Ways and Means Committee. Below are 3 ways to advocate for the Historic Tax Credit, courtesy of MacRostie Historic Advisors:WRITEThe easiest way to advocate for the federal Historic Tax Credit is to work through the Historic Tax Credit Coalition. If you are able to contact any of the committee members listed, please email Michael Phillips (mphillips@ntcic.com) at the Coalition. Based on your location, the Coalition team can send you the contact information for your federal legislators along with a form letter that you can cut, paste, and forward. Add a word about how you have witnessed the economic benefits of historic tax credits in your state.The National Trust for Historic Preservation has some good statistics and studies if you want to fortify your case.CALLIf you want to take it further, pick up the phone. Tell your representatives why you support the historic tax credit. Ask that they represent you and your community when they consider any tax reform.REPEATAlready sent emails and called? Do it again. If you haven’t heard back from your outreach after three days, repeat your effort.