Today marks the start of the 439th Session of the Maryland General Assembly, and Preservation Maryland is poised to continue to be the voice of historic preservation in Annapolis. We have a full slate of priorities in support of historic tax credits, community revitalization, preservation funding, and smart growth.
As a result of Preservation Maryland’s ongoing and sustained advocacy $9 million more historic tax credit projects were funded across the Old Line State. As a result, nearly $58 million worth of projects will move forward – underscoring the importance of preservation advocacy.
Last year, Preservation Maryland and our partners from across the country worked with members of Congress to retain the Historic Tax Credit (HTC) in a reformed tax code. While we were successful in keeping the HTC as a permanent tax credit, the credit is now taken over 5 years, resulting in a loss of value.