Tagged as Historic Tax Credit

Historic structures require significant repair and upkeep – but with routine maintenance the time and expense associated with those repairs can be substantially reduced. Equally important as maintaining the structure is making sure that those repairs are safe for historic buildings. Often, preservation-safe repairs cost the same or slightly more but can save property owners in the long-run. These preservation best practices are not a comprehensive or complete guide to every issue a property owner will confront but are a jumping off point for your next preservation project. 

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By Elly Colmers Cowan

Sine Die 2021: State Legislative Advocacy Report

The 2021 Legislative Session of the Maryland General Assembly came to a close on Monday, April 12, 2021. After 90 days of championing key bills and testifying on many other pieces of important legislation, it is safe to say that Preservation Maryland had one of its busiest legislative sessions in recent history, and everything was accomplished remotely. With Session adjourned until January 2022, we are happy to report that we were able to make significant advances for preservation and smart growth in Maryland.

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The National Park Service recently released their Federal Tax Incentives for Rehabilitating Historic Buildings Annual Report for FY 2020, and it shows that despite the unprecedented year, the federal historic tax credit was able to have a positive impact for historic communities across Maryland and around the country.

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Maryland’s Small Commercial Historic Tax Credit program has run out of money and requires immediate funding. This week, Senate and House committees will hold hearings for HB865/SB659 that would extend the life of this vital program by increasing the authorized funding amount by $1 million.

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