…The Senate on Wednesday also advanced a bill that would increase the amount of a tax credit available for rehabilitating certified historic structures.
Senate Bill 238, introduced by Ferns, would raise the tax credit from 10 percent to 25 percent for improving qualified properties for commercial use. As currently written, the tax credits would be available for qualified rehabilitation expenditures made after Dec. 31.
The measure unanimously passed the Senate Wednesday, and will move on to the House for the final week of the regular session.
Jake Dougherty, executive director of Wheeling Heritage, termed the measure “critical” for communities such as Wheeling with many older structures. With renovations, these properties could become useful and tax-producing, he said.
He said there are several significant and important commercial structures in downtown Wheeling that could benefit from the increase in the historic tax credit. Among these are…
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