Urge Your Members of Congress to Support HTC-GO

President Trump and Republican leaders in Congress are eager to pass a taxes bill. This is the best opportunity in years to pass a bill that will improve and modernize the Historic Tax Credit program. Formally called the Historic Tax Credit Growth and Opportunity Act and nicknamed HTC-GO this bill (H.R. 2941, S.1459) will help the historic tax credit become easier to use, make more projects eligible for the credit, and boost the credit amount for smaller and rural rehabilitation projects.

Here’s what’s included:

• Returns to a 1-year delivery of Historic Tax Credits for all projects. (Currently the credits have to be claimed in equal installments over five years.)

• Eliminates the HTC Basis Adjustment, bringing more value to HTCs and making it easier to pair with the Low-Income Housing Tax Credit

• Reduces the “substantial rehabilitation threshold” from 100% to 50%, making more buildings eligible to use the HTC

• Modifies Tax Exempt Use Rules, making the credit easier to use by non-profits

• Increases the credit from 20% to 30% for small projects below $3.75 million

• Increases the credit from 20% to 30% for projects below $5 million in rural areas

• All small/rural projects are eligible for direct transfer

It is essential for preservation supporters to make the case THIS SUMMER for enhancing the HTC. Without our advocacy, the HTC might even be threatened with cuts or elimination, along with other critically important preservation programs.

Reach Out to Congress

• Find Your Members of Congress

  Use this link to look up who represents you in the U.S. House and Senate.

• Call Their D.C. Office

  Refer to our info sheet for their office number in Washington, DC. Ask to speak with the staffer who works on taxes or economic development.

• Introduce Yourself

  Say your name, where you're from, and the name of your organization if you have one. Use your organization’s mission statement or a short “elevator pitch” to describe what you do or why historic rehabilitation incentives are important to you.

• Ask for them to Cosponsor HTC-GO

  Ask for your Representative or Senator to cosponsor the Historic Tax Credit Growth and Opportunity Act. In the House, the bill number is H.R. 2941. In the Senate, the bill number is S. 1459. Both bills have bipartisan authors and cosponsors. (NOTE: As of early June, Senator Tina Smith, Senator Amy Klobuchar, Rep. Angie Craig, and Rep. Ilhan Omar have already signed on as cosponsors. Thank them instead!)

·      Ask them to Advocate for HTC-GO

Also ask them to include HTC-GO provisions in emerging tax legislation.

• Tell a Local Story

  Do you know of a project that has received Historic Tax Credits in your community? Tell them a little about it, and why it’s important. If there’s not a local project – let them know that the HTC-GO changes will help your community make use of this economic development tool, attracting rehab investment in a vacant or underutilized historic building.

• Say Thank You

  Thank the staffer for their time and their service.