Historic Preservation Tax Credit
Reps. Daneya Esgar, D-Pueblo and Hugh McKean, R-Loveland; Sens. Jack Tate, R-Centennial and Leroy Garcia, D-Pueblo
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 continues 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. CML thanks Trinidad Mayor Phil Rico for his testifying in support of HB 18-1190 in CML's behalf.