Last Thursday, the PA General Assembly passed the fiscal year 2024 - 2025 budget. The tax code included language to raise the annual cap of the historic tax credit program to $20 million! This impressive quadrupling of available funding will allow more rehabilitation projects to be completed across the Commonwealth.
We would like to thank Senator Nikil Saval, Senator Frank Farry, Rep. Steve Samuelson, Rep. Jim Prokopiak, and many others in the House and Senate leadership for helping us achieve this feat.
The PA Historic Tax Credit Coalition, led by the Preservation Alliance and Preservation Pennsylvania, is committed to strengthening this important economic development tool and continues to push for greater improvements to the program.
Thank you to those who contacted their state legislators to raise awareness of the need to strengthen this program!
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