Federal Legislative Issues

Call to Action: Help Us Save the Federal Historic Tax Credit!

The Federal Historic Tax Credit (FHTC) is at risk! This is a vital incentive to encourage the reuse and rehabilitation of historic buildings throughout the nation. It has generated over $2.3 billion in private development investment and helped create more than 22,000 jobs.

Since 2001, the Internal Revenue Service has awarded $509 million in federal historic tax credits to projects in Illinois, resulting in the completion of 253 projects statewide and over $3 billion in total development expenditures.

However, President Donald Trump and House Speaker Paul Ryan have said Congress will prioritize tax reform in 2017 and have a goal of drafting a tax reform bill in the near future. The elimination of the FHTC could be included in such tax reform. Please help Landmarks Illinois and preservation organizations throughout the U.S. in advocating for the continuation of the FHTC, and ask members of Congress to show their support for the FHTC during tax reform discussions.

Here’s what you can do today:

Current federal historic tax credit legislation

Federal Historic Tax Credit Projects

The Woodstock Theater is just one example of a historic preservation project in Illinois that used the Federal Historic Tax Credit to restopre a historically significant space.

You can view more FHTC projects in Illinois between 2004 and 2015 here.

Before Restoration

Prior to restoration, the historic character of the Woodstock Theater was hidden from view. (2011)

After Restoration

Restoration efforts at the Woodstock Theater brought back much of the building's historic character. (2014)

Historic Photo

A historic picture of the Woodstock Theater shows the building's original character and historic charm.

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