PUBLIC POLICY
PUBLIC POLICY
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Recent Policy Updates
18,000 jobs have been created since the
Historic Tax Credit was enacted in Minnesota in 2011.
About the Minnesota Historic Tax Credit
Minnesota's Historic Tax Credit Structure Rehabilitation Tax Credit (MN Statute 290.0681), passed into law in 2010, has been a successful economic development tool for revitalizing distressed, vacant, and underutilized historic properties throughout the state. The credit provides a refundable income tax credit equal to 20% of qualified rehabilitation expenses made to buildings listed in the National Register of Historic Places and used for income-producing purposes (including office, industrial, retail, hospitality, and rental residential).
Elected officials from both parties support Historic Tax Credits.
“For every dollar we put into this—we’re putting in $14 million this year—it generates in the neighborhood
of about $9.50 of economic activity.
So it’s just a tremendously great project I think in terms of saving historical structures, which are important to a lot of Main Streets across Minnesota. ”
- Senator David Senjem, MN-25, R
"I support the Historic Tax Credit extension. We have a lot of beautiful {iconic} buildings in this state that are a part of our history. And I think this will help preserve them and maybe repurpose them.”
- Senator Kari Dziedzic, MN-60 – DFL