Preserve the Louisiana Historic Tax Credit Program


Preserve the Louisiana Historic Tax Credit Program
The Issue
Since the Louisiana Historic Tax Credit program was launched in 2002, our state has become a leader in transforming vacant buildings and commercial districts into spaces for living and working, and adding to the local sales tax base. A special session in early November risks eliminating the Louisiana Historic Tax Credit program, along with all other state tax credits. The Louisiana HTC program is actually cash-positive for the state, creating jobs and $8.76 in economic turnover for every $1 of credit issued. Please reach out to your state representative and state senator before this special session begins and ask them to protect Louisiana's Historic Tax Credit Program for continued re-use of our historic buildings. Please continue to reach out to your state representatives and senators to ask for their support to keep the Louisiana Historic Tax Credit Program in the upcoming special legislative session, scheduled for November. One of the draft bills proposes to sunset all tax credit programs effective December 31, 2024. If approved in the special session (in the bills current form), any qualified expenses incurred after the end of the year will no longer qualify for the state historic tax credit.
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The Issue
Since the Louisiana Historic Tax Credit program was launched in 2002, our state has become a leader in transforming vacant buildings and commercial districts into spaces for living and working, and adding to the local sales tax base. A special session in early November risks eliminating the Louisiana Historic Tax Credit program, along with all other state tax credits. The Louisiana HTC program is actually cash-positive for the state, creating jobs and $8.76 in economic turnover for every $1 of credit issued. Please reach out to your state representative and state senator before this special session begins and ask them to protect Louisiana's Historic Tax Credit Program for continued re-use of our historic buildings. Please continue to reach out to your state representatives and senators to ask for their support to keep the Louisiana Historic Tax Credit Program in the upcoming special legislative session, scheduled for November. One of the draft bills proposes to sunset all tax credit programs effective December 31, 2024. If approved in the special session (in the bills current form), any qualified expenses incurred after the end of the year will no longer qualify for the state historic tax credit.
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Petition created on October 28, 2024