Historic Tax Credits Bill Passes State House

Posted By: Sue Parr The 706,

The availability of historic tax credits for both residential and commercial redevelopment of historic buildings is an important tool to not only help overcome the more costly nature of redevelopment but incentivize breathing new life into historic property, often legacy buildings needing new purpose.  HB 1116 has passed the Georgia House and now goes to the Senate.  The bill extends the sunset on the use of historic tax credits and raises the amount of the project cost available for the credit.  The Chamber’s partnership with 10 other chambers across Georgia made this a central bill this year in advocating for passage.  The HUB Chamber Council includes Augusta, Albany, Savannah, Columbus, Macon, Rome, Athens, Valdosta, Warner Robbins, Brunswick and Dalton.