Governor John Bel Edwards has signed into law a five-year extension of the Louisiana Historic Rehabilitation Commercial Tax Credit Program, more commonly known as the state historic tax credit. This is one of the most important tools for historic preservation and economic development in the state, and we thank Louisiana’s lawmakers for recognizing the benefits of this successful program. In June, the legislature authorized an extension of the tax credit, which provides a 20 percent credit back on all qualifying historic building rehabilitation expenditures. Lawmakers added an annual statewide cap on the program of $125 million. The new sunset date for the credit is 2026. With these changes in place, developers will feel confident to continue investing in the rehabilitation of Louisiana’s historic buildings.
We give sincere thanks to all who made this possible through months of hard work, including Carling Dinkler, Mackenzie Ledet, Paul Rainwater and Gabrielle Keyes with the Louisiana Historic Tax Credit Coalition; Rep. Tanner McGee for authoring and sponsoring the bill; Sen. Page Cortez, Sen. Rick Ward and Rep. Jason Hughes for serving on the conference committee; and allied organizations who worked towards this goal, including Preserve Louisiana, the Louisiana Trust for Historic Preservation and the Greater New Orleans Housing Alliance. We appreciate ALL of your work to preserve Louisiana’s historic sites, main streets and cities!
It is noteworthy that all members of the Orleans and Jefferson delegations voted in favor of the bill that extended the program. Our elected leaders recognize that state historic tax credits improve communities and create jobs throughout the region. Many thanks to those who reached out to their representatives to advocate to extend the state historic tax credit! Send your legislators an email to thank them for their support. Follow THIS LINK to find your state legislator and send an email.