Missouri Tax Credit News
Historic Tax credit support - March 08, 2010
The historic tax credit program is under constant attack in Missouri. The budget is in bad shape and legislators are looking for programs to cut. Before such a move is made, they should consider the recently released Rutgers University study. The study shows that the states with the most generous historic tax credit programs have the greatest amount of historic rehabilitation activity. Missouri, as you would expect, was number one in the country.
The entire study can be found at http://www.preservationnation.org/issues/community-revitalization/jobs/Rutgers-Report.pdf.
I am just back from the National Historic Tax credit conference. The head of the Ohio Historic Preservation Office, Judith Kitchen, gave a presentation. She stated that for each dollar of historic tax credit there was a benefit of $5.95 to the state. She also emphasized that the benefits were realized before the state issued the credit.
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