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FOR IMMEDIATE RELEASE |
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State
Rep. Bob Freeman D-Northampton
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Freeman bill would provide tax incentives, grants for preservation projects
HARRISBURG, Feb. 4 – A bill that would provide grants and tax incentives for residential and commercial historic preservation projects was unanimously approved by the House Local Government Committee today, according to the committee chairman and bill's sponsor state Rep. Bob Freeman, D-Northampton.
House Bill 42 would establish the Historic Preservation Incentive Grant Program within the Department of Community and Economic Development. The program is designed to provide tax credits for certain historic commercial projects – up to $500,000, and grants for certain residential external rehabilitation or restoration projects – up to $15,000. Retired state Rep. Tom Tangretti, D-Westmoreland, introduced similar legislation during the last legislative session.
"These tax incentives and credits can act as a form of economic stimulus for older communities, creating restoration and construction jobs while also preserving historic buildings and improving the look of older communities," Freeman said.
The Pennsylvania Historical and Museum Commission would review requests within 45 days of application, with priority given to properties located within Elm Street and Main Street communities, enterprise zones and historic districts. All projects would have to be completed within two years.
"In order to preserve historic buildings, it is vital that we provide assistance to owners to renovate and preserve," Freeman said. "These buildings are sometimes very costly to renovate and, because of that, can fall into disrepair. This bill can make a difference for an owner."
Freeman also co-sponsored a companion bill that would provide tax incentives for construction projects for environmentally friendly buildings. The measure would provide incentives for both the construction of high performance buildings as well as the renovation of existing buildings, making them high performance. The bill is sponsored by state Rep. Kate Harper, R-Montgomery.
Freeman said the bills are being introduced in a bipartisan fashion, and he hopes to garner the same support on the House floor.
"Working in a bipartisan fashion is so important in moving legislation," Freeman said. "These bills are so relevant now in this economic downturn, and they provide relief for owners who want to preserve historic locations and turn buildings into environmentally friendly ones. These bills are good for owners and good for the community, from both a historical and environmental perspective as well as an economic standpoint."
The measure will now move to the House floor for consideration.