UPDATE 6/9/2020: We are thrilled to report that House Bill 4, which extends the sunset of Louisiana’s Historic Rehabilitation Tax Credit from the end of 2021 to 2028, passed through the Louisiana House of Representatives on a 90-1 vote yesterday afternoon (June 8). This credit brings 20 percent of renovation expenses back to those who are saving historic buildings, and is directly responsible for billions of dollars of investment in our state. Thanks to all of you who reached out to your representatives yesterday in support of the bill! Historic preservation creates jobs, so passing this bill and allowing rehab projects to continue without roadblocks is more important than ever right now in Louisiana as we recover from the effects of the pandemic. One final thank you to Rep. Tanner Magee who introduced the bill into the special session, and our New Orleans representatives for their support: Gary Carter, Mack Cormier, Royce Duplessis, Aimee Freeman, Raymond Garofalo, Stephanie Hilferty, Jason Hughes, Mandie Landry, Candace Newell, and Matthew Willard. On to the Senate!
Original post, 6/8/2020 –
Louisiana’s Commercial Rehabilitation Tax Credit, better known as the State Historic Tax Credit (HTC), has played a crucial role in preserving culturally significant buildings across our state, creating jobs in the process.
Please contact your state representative immediately to voice your support of HB 4, which maintains and extends this impactful program to 2028.
Since 2002, the State Historic Tax Credit has led to the rehabilitation of 1,322 buildings across Louisiana, triggering more than $4 billion in private investment in Louisiana’s historic downtowns and cultural districts. Half of all projects receiving the credit were smaller than $500,000 in total costs, demonstrating that the HTC is fundamentally a small business incentive.
HB 4 will be heard by on the floor of the House of Representatives today, June 8th.
Our statewide partners in the Louisiana Citizens for Culture coalition have made it simple for you to take a brief moment to contact your representative. Use the sample message or take a few extra minutes to personalize your message. You will receive a confirmation code before your message is sent, please be sure to check your inbox, junk, and clutter. Thank you!
The Pythian building is just one example of the many projects in New Orleans that utilized the Louisiana Historic Tax Credit to save and transform vacant historic buildings.