State Legislature to consider keeping historic tax credits
Bill to extend tax credits By Steve Crocker | February 9, 2021 at 10:40 PM CST - Updated February 9 at 10:40 PM
BIRMINGHAM, Ala. (WBRC) - One of the most important pieces of downtown Birminghamâs renaissance is up for reconsideration by the Alabama legislature. As the Birmingham Business Journal recently reported, lawmakers are looking at extending the stateâs Historic Rehabilitation Tax Credit.
The legislation enacted in 2013 was studied after 2016 and resurrected in 2017. Itâs been considered so successful that 19 legislators from across the state and from both parties are co-sponsoring itâs extension.
David Schneider of Schneider Historic Preservation says most of the major historic renovation projects in the state would not have been done without the legislation, which lets developers write off 25% of the projectâs cost against their tax liability. Schneider says historic rehabilitatio