Incentives to renovate buildings disappear with tax reform
With more than 30 years of consistent tax legislation, the federal historic tax credit program seemed to be as steadfast as the heavy timber and masonry buildings that it helps to preserve. Then, in the uncertainty of the 2017 tax reform — the House proposed eliminating historic tax credits entirely while the Senate proposed retaining partial credits — the existence of this powerful program was questioned and threatened, creating confusion and panic throughout the building reuse industry. [Continue]