Provision championed by U.S. Sen. Bill Cassidy takes an important step in preserving the HTC, a pro-growth economic development program that has created jobs and generated private investment throughout Louisiana.
New Orleans, LA – Preservation leaders from across Louisiana and the nation applauded efforts by U.S. Senator Bill Cassidy (R-LA) to preserve the federal Historic Tax Credit (HTC) in legislation overhauling the nation’s tax code. At the same time, there is extreme concern among historic preservation stakeholders regarding a provision in a tax reform bill (H.R. 1) passed yesterday by the House of Representatives that would entirely repeal the federal HTC.
Louisiana is a national leader in historic rehabilitation and usage of the federal HTC. Repealing the HTC would have devastating consequences on neighborhoods and economic development throughout the state.
Tax overhaul legislation, as introduced in the U.S. Senate on November 9, would have cut...Read more