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HB-4 Passed, Historic Tax Credit Extended to 2025
Thank you to everyone who reached out to their legislators and asked for their support of this important program for our state. Your voices were heard! Not only does this program make rehabilitation of historic buildings more feasible and creates local jobs, it also provides the State Treasury an approximate 3:1 return on its investment. ($2.77 to $3.22 direct return for every $1 in credit given). On Tuesday July 14, House Bill 4 (now Act No. 25) was signed by Governor John Bel Edwards to extend the State Commercial Tax Credit to December 31, 2025.
In order to qualify for the state historic tax credit program, buildings must be located in a Downtown Development District (DDD) or a LA Cultural District and be income-producing once they are rehabilitated. If the historic commercial area of your town does not currently have this designation, share this with your municipal leaders and urge them to work on this designation. The 20% state historic tax credit can mean the difference between a historic building remaining vacant or becoming an economic driver for your area and local tax base. The annual deadline for the LA Cultural District Program is August 1, 2020.
We would also like to thank our preservation partners at Preserve Louisiana and Preservation Resource Center, as well as Stonehenge Capital and Enhanced Capital for their hard work. Finally, we'd like to thank our contacts and members for your advocacy actions and continued support of historic preservation throughout Louisiana.
Most Endangered Places in the News
Last month, we announced 11 new additions to Louisiana's Most Endangered Places ranging from a 1790s trading post to a more recent 1950s school for African American students during Segregation. To discover this year's list, click here.
Learn more about some of the sites in these recent news articles:
Garland House - Bernice, Union Parish
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Louisiana Trust for Historic Preservation
PO Box 1589 - Baton Rouge, LA 70821
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