Steve Mensing, Editor
♦ N.C. Senators Andrew Brock and Robert Rucho co-sponsored Senate Bill 472: “Local Incentives for Historic Rehabilitation”. On Tuesday April 28th SB 472 received a favorable reading the Senate Committee on Finance and advances.
Senate Bill 472, if passed, would pretty much close the door on State Historic Preservation Tax Credits and instead replace it with a bill authorizing local governments to appropriate money for historic rehabilitation and to clarify and standardize requirements for appropriating funds for local economic development. This is quite a switch from taking money from state taxpayers and business owners and instead places the burden on municipal and county governments and their taxpayers. Many observers across the state believe local municipalities need more skin in “their game”.
State taxpayers and business owners living far from alleged “historic” municipalities would no longer be on the hook to fund historic preservation cronyism and abuses.
Here is Senate Bill 472:
http://www.ncga.state.nc.us/Sessions/2015/Bills/Senate/PDF/S472v1.pdf
Featured photo N.C. Senator Andrew Brock
