Investing in History: PA House Passes Historic Preservation Incentive Program

In the midst of a contentious budget battle in the General Assembly, the Pennsylvania House of Representatives passed HR 42, the Historic Preservation Incentive Program, which seeks to provide grants and tax credits for historic buildings across the state.

As state agencies anxiously await funding levels for the next fiscal year, the program would encourage the restoration of existing historical sites and residential buildings.  According to PennFuture, most rehabilitation efforts in the state rely on federal historic tax credits, which have been available since 1985.  Nearly 2,000 projects have been completed since the start of the program, and Pennsylvania ranks in the top five states in the use of federal rehabilitation tax credits, even without any state investment. 

The bill will now move to the Pennsylvania Senate, and if passed, the program would begin in July of 2010.