Historic State Tax Credits
State Tax Credit Update
A new "Economic Development and State Historic Tax Credit Act" bill (AB 771) has been introduced for the 2015 legislative session. This bill will be sponsored by a broad-based coalition under the leadership of the California Preservation Foundation (CPF)and the California Chapter of the American Institute of Architects.
For more information on the current status and how you can assist in continued efforts to bring this credit to fruition, contact CPF by phone or through their web site:
California Preservation Foundation
Despite support from leading Preservation organizations, property owners, developers, affordable housing advocates, builders and unanimous, bipartisan support from both houses of the state legislature, AB 1999 was vetoed by Governor Brown on September 29, 2014.
Governor Brown veto message of AB 1999
For information, facts and examples of state tax credits around the country, see the National Trust for Historic Preservation web pages on Historic Tax Credits.
In providing assistance to the committee, the Architectural Review Unit has produced a number of documents that may be helpful to those looking at a state historic tax credit for California:
• A California State Rehabilitation Tax Incentive, An Incentive Whose Time Has Come
Top ten list on what a statewide rehabilitation incentive could do
• California Historic Tax Implementation
Outline on objectives and implementation, including potential phases and steps
20% Federal Rehabilitation Tax Credit Projects in California over the last ten years (Federal Fiscal Years 2005 to 2014)
Certified Expenses 2005-2014
Certified Projects per California County 2005-2014
• Your Historic California provides numbers for the various registration designations and programs within the Office of Historic Preservation.
National Trust for Historic Preservation
• State Rehabilitation Tax Credits provides information on other states' Tax Credit Programs.
• State Tax Credits for Historic Preservation, Policy Report by Harry K. Schwartz
U.S. Department of the Interior
• Steps to Promote Historic Preservation Tax Incentives in Economically Depressed Areas