North Carolina’s Fight to Restore Historic Tax Credits

The Historic Preservation Tax Credit program used for restoring historic properties in North Carolina has successfully been reinstated. The tax credit system, which also includes the credit for income-producing properties, phased out at the end of 2014 as part of state tax reform measures taken by North Carolina lawmakers. Since first introduced in 1998, experts estimate that the tax credits have generated $1.4 billion in statewide revenues with each project generating approximately four jobs.

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