HARRISBURG -Bipartisan legislation is being introduced to create the Historic Homeownership Preservation Incentive Tax Credit in PA. The proposal would allow homeowners with a plan to rehabilitate their historic home located in a qualified census tract to receive tax credits towards the rehab project. Currently, PA has a Historic Preservation Tax Credit that supports the rehabilitation of income-producing properties, but has no equivalent for owner-occupied historic structures. Bill sponsors, Montgomery County Rep. Joe Ciresi and Venango County Rep. R. Lee James say research shows that similar tax programs are great economic engines for communities. They found that Maryland’s Historic Revitalization Tax Credit Program helped rehabilitate over 4,000 historic buildings since 1996, creating 25,000 jobs in the process.
REP. R. LEE JAMES
REP. JOE CIRESI