An historic property redevelopment tax credit is spared from moratorium.
The House Finance Committee recommended placing a moratorium on the program, essentially because it has been a greater success than its originators expected. More developers than anticipated had applied for the Commercial Historic Tax Credit Program causing legislators to worry about its cost. In the end, legislators agreed to hold off on any action until the economic impacts of the tax credit can be more fully examined.
Thanks to John Flaherty
FULL STORY: Historic property development tax credit is spared from moratorium
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