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House GOP tax overhaul would kill federal historic preservation tax credit

The new tax reform proposal submitted by Republican lawmakers today would cut a much-loved program for city development and renovation, potentially adding to opposition from the development community.

The tax reform bill introduced in the House of Representatives today would eliminate the federal Historic Tax Credit program (HTC). The program, which encourages the redevelopment of historic and abandoned buildings, has, according to analysis from the National Trust for Historic Preservation, been used to renovate more than 40,000 structures and channel $117 billion in private investment since being enacted by the Reagan administration in 1981.



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