Down, but not out – Groundwork laid for passage in future session

Revitalizing West Virginia's Downtowns

Res-Comm++31 Waldo Hotel, Clarksburg / Photo by Amy Heiden

It is with mixed emotions that I share that SB 238, which would have increased the rate of West Virginia’s historic rehabilitation tax credit to 25%, did not complete legislation by midnight on Saturday, April 8th.

When the Revitalize West Virginia Downtowns Coalition first formed and announced its intentions last year, the group was met with heavy skepticism. Some doubted that the proposal would gain traction in the Legislature. Others feared that the Legislature would cut the historic tax credit program altogether.

In reality, increasing the rate of the historic rehab tax credit received widespread support and found strong advocates in both chambers.

SB 238 passed the Senate, 34 – 0, and passed the House with amendments introduced in House Finance, 90 – 8.

Unfortunately, the Senate and House were unable to resolve the differences between their respective versions of the…

View original post 276 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s