Should the state finally commit new funding to the popular historic tax credit program?

PBN Staff

11/19/2017

The former Woonsocket Co. Mill complex is shown in this 2013 photo. Owners have been awarded state historic-preservation tax credits to renovate some of the buildings. COURTESY HISTORICAL PRESERVATION AND HERITAGE COMMISSION

A popular state historic tax credit program has not received new funding since 2013.

Now a federal version of the program is in jeopardy. A House bill would eliminate the program, which covers up to 20 percent of project costs for the rehabilitation of old mills and commercial structures. A Senate bill would cut the federal program in half.

PBN Branded Content

Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting

Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…

Learn More

With the federal program threatened and state lawmakers reluctant to commit new funding for the Rhode Island program, advocates worry other available incentives won’t be enough to make historic-preservation projects affordable.