Illinois State House District 72 issued the following announcement on March 5
State Rep. Mike Halpin, D-Rock Island, is working to maintain our local history for future generations by increasing funding for the preservation of notable historical structures.
“In 2018, we took the first step to preserve our historic landmarks by offering to Historic Preservation Tax Credit (HPTC) statewide,” Halpin said. “Unfortunately, the need for the tax credit has outpaced what the state previously could offer.”
Halpin introduced House Bill 4054, which triples the annual statewide allotment for the Historic Preservation Tax Credit from $15,000,000 to $45,000,000. When the tax credit was first created, the state received requests far exceeding the original limit. This new credit will help preserve countless sights across the state.
“The Historical Preservation Tax Credit is an economic development incentive that also serves to protect our state’s heritage,” Halpin said. “Each structure we preserve is another way to tie our present to the past. I urge my fellow lawmakers to support this bill and help preserve Illinois history.”
Original source can be found here.
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