The Alabama Historic Rehabilitation Tax Credit that was allowed to expire last year received a positive review from a recently released study by an economist from The University of Tennessee. The study was requested by Alabama Legislative leadership to determine the impact of the incentive to the state and recommend any improvements to the credit that may be called for. The study suggested that the credit has had a positive impact, rating it a grade of “B” and made recommendations to get to an “A”.
Senator Del Marsh said, “Overall the Historic Tax Credit is a good program that could be a great program with a few modifications. I look forward to working with my colleagues in the regular session as we attempt to re-establish the tax credit with the suggested improvements.”
That is encouraging news for Birmingham and historic areas across Alabama. REV looks forward to working for passage of a new Historic Tax Credit in the upcoming legislative session!
Join Young Pioneers of Birmingham, in support of REV Birmingham, on Thursday, June 6 for a discussion about the Importance of Place with the Alabama Futures Fund, hosted at downtown Birmingham’s brand new Harvest Market!