Pennsylvania Historic Tax Credit Advocacy
Currently, the PA historic tax credit program is capped at only $5 million annually, a highly inadequate sum given the demand for historic rehabilitation projects around the Commonwealth. Now is the time for Pennsylvania to strengthen its historic tax credit program!
The Preservation Alliance and Preservation Pennsylvania are leading a statewide coalition to strengthen this important economic development tool by increasing the annual aggregate cap and making it more accessible.
Success!
On July 11, the PA General Assembly passed the FY 2024- 2025 budget and the tax code portion included language to raise the annual cap to $20 million for the historic tax credit program! While this was lower than our coalitions original request of $50 million, this is an impressive quadrupling of available funding!
We are grateful to the leadership of Senator Nikil Saval, Senator Frank Farry, Rep. Steve Samuelson, Rep. Jim Prokopiak, and many others in the House and Senate leadership to achieve this feat.
Our coalition will continue to push for greater improvements to strengthen the program. If your organization or firm is interested in joining the PA Historic Tax Credit Coalition, please email advocacy@preservationalliance.com.
Additional Resources:
- Issue Brief, PA Historic Tax Credit Coalition, June 2024
- Advocacy Resources, PA Historic Tax Credit Coalition, June 2024
- State Historic State Credit Resource Guide, The National Trust for Historic Preservation, January 2023
- The Missing Key: A Study of the Impact and Potential of the PA State Historic Tax Credit, Preservation Pennsylvania and PlaceEconomics, April 2019
- PA Historic Preservation Tax Credit: An Evaluation of Program Performance, Independent Fiscal Office, January 2019
In the News:
- “PA lawmakers incentivize builders to restore historic buildings,” NPR, July 2024
- “Pennsylvania’s Historic Tax Credit Increased to $20 Million,” Hidden City, July 2024
- “Quadrupled historic tax credit among the potential new supports for downtown Pittsburgh,” Pittsburgh Business Times, July 2024
- “‘Woefully behind’: Pa. advocates hope more support for historic revitalization is part of the state’s budget,” WHYY, June 2024
- “Strengthening PA’s Historic Tax Credit Would Bring Investment to Greater Philadelphia,” Center City Business Association, March 2024
- “Preservationists and Developers Say Pennsylvania Needs to Boost its Historic Tax Credits,” Hidden City, February 2024
Past Events
April 2024 Webinar Recording
On April 11, we hosted a coalition update call with Senator Nikil Saval to discuss the legislative outlook.
October 2023 Event Recording
Our campaign kicked off in October 2023 with a panel presentation to hear from national experts, state legislators, and local developers about the benefits that can come from strengthening the Commonwealth’s historic tax credit program.
View the event program and slideshow.
Panelists: PA State Senator Nikil Saval; Renee Kuhlman, National Trust for Historic Preservation; Aidita Milsted, New Jersey Economic Development Authority; Lisa Brownell, Ohio Department of Development; A. Roy Smith, Uptown! Entertainment Alliance Board of Directors; Moderator: Bob Powers, Powers and Company
In collaboration with
