Urgent action needed!
Contact your representative in the General Assembly and urge them to include funding for Historic Tax Credits in the 2015 Budget.
Last week, the House Finance Committee declined to recommend funding for this program. The House will take up the budget this week: only a groundswell of voices from around the state will convince representatives to include Historic Tax Credits in the budget. Time is short – immediate advocacy is needed.
Contact your Representative in General Assembly to ask them urge the Speaker of the House, Nicholas A. Matiello, and the Chairman of the House Finance Committee, Raymond E. Gallison, to pass a budget that includes funding for Historic Tax Credits. Email or call your Representative before Wednesday, June 11th (they are expected to act on the budget on Thursday).
Historic Tax Credit: Quick Facts
- Last year, the State Historic Tax Credit program was reinstated — and 26 new projects are currently underway! However, there are 27 additional projects on a waiting list. Without funding for Historic Tax Credits, most of these projects will not happen.
- This would mean the loss of nearly $160 million in construction activity, an investment of jobs and revenue which our economy desperately needs.
- Rhode Island’s Historic Tax Credit program has an excellent track record. From 2002 to 2008, it generated $1.3 billion in new private investment in Rhode Island’s real-estate economy. This resulted in 22,000 construction jobs, 6,000 permanent jobs, and total wages of more than $800 million.
Rhode Island needs this kind of investment!
Please contact your Representative in General Assembly and let them know we need continued funding for Historic Tax Credits.