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Road Closures Sunday, February 23 for The Cowtown Marathon. Expect Delays in and around Downtown. Read More

State Historic Preservation Tax Credit

May 28,2013

The Texas Legislature's tax bill (HB 500) sent to the Governor for approval included an element sure to benefit downtowns and central city areas throughout the state. Both the House and Senate agreed to the creation of a State Historic Preservation Tax Credit.  This credit, which can be applied to the state franchise tax, will provide funding for up to 25% of eligible expenses associated with historic preservation.  Coupled with the 20% Federal credit, this new state incentive, if approved by the governor, will be a powerful force in public and private efforts to reactivate historic properties.  Since downtowns and center cities house most of our state's historic buildings, these areas will benefit greatly from this legislation.  For an excellent example of how state incentives can jump start development in long dormant historic buildings, look to St. Louis.