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To clarify, since nobody asked me, I am a strong supporter of historic building preservation and always have been. The tax credits were so oversubscribed at the time that they were useless, and we thought the creation of a directed program with almost twice the funds would be a good start until we had more money available to appropriate. The federal tax credits are clearly more lucrative, but I supported some type of state program. I think these proposed bills are a good idea.
No.
The author uses an example of a tax deduction, but everything else I’m reading implies that these are tax credits. Someone please explain to Taylor that these are two different things…
Hi Matthew. I’m the editor of IBJ. This was mistake was mine, not Taylor’s. I appreciate that you pointed it out. I do know the difference between a deduction and a credit and have written about both many times. But obviously, I didn’t show that here and added a mistake to Taylor’s story. Again, thank you for pointing it out, and I have corrected it. -Lesley