The Pennsylvania State Senate recently passed a bill, SB 1150, that would create a State historic tax credit program. The bill, originally introduced by Senator Lloyd Smucker (R-Lancaster), would allow municipalities that have a registered historic district to provide tax credits to developers looking to renovate or rehabilitate a historic commercial structure. The program would be administered by the state Department of Community and Economic Development and applicants would also be required to submit a rehabilitation plan for review by the Pennsylvania Historical and Museum Commission. The bill will now be taken up by the Pennsylvania House of Representatives.
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