Historic Preservation: Historic Preservation Tax Credit

Historic Preservation Historic Preservation Tax Credit HB 18-1190 Support H. Business, Labor, Economic and Workforce Development Reps. Daneya Esgar, D-Pueblo and Hugh McKean, R-Loveland; Sens. Jack Tate, R-Centennial and Leroy Garcia, D-Pueblo Meghan Dollar mdollar@cml.org HB 18-1190 extends the Historic Preservation Tax Credit that was established in 2014. CML supported the program. The credit aimed at spurring investment in communities throughout the state, and the specific carve out for small projects helps ensure that rural communities are well represented. It is jointly administered by History Colorado and the Office of Economic Development and International Trade. HB 18-1190 coninutes the credit at $10 million annually, with $5 million for small projects and $5 million for larger projects. It also expands the program with additional incentives in rural areas and small projects. Finally, it separates the residential and commercial tax credit in statute for more clarity.