Improvements to the State Historic Tax Credit in the 2020 Budget
Two important improvements to the State Historic Tax Credit have made it into the final state budget. All historic buildings within two distinct groups can take advantage of the State Historic Tax Credit, regardless of prior qualification:
1. Historic buildings within New York State Parks and State Historic Sites
2. Historic homes in cities with a population under one million with at least 15% poverty threshold
This win for historic preservation would not be possible without the leadership of Governor Andrew M. Cuomo, the Assembly and Senate, especially Assembly Speaker Carl E. Heastie and Senate Majority Leader Andrea Stewart-Cousins, Assembly Ways and Means Chair Helene E. Weinstein and Senate Finance Chair Liz Krueger.
Recognition also belongs to Assemblymembers Carrie Woerner, Donna Lupardo, Patricia A. Fahy, Steve Otis, Steven Englebright, Robin Schimminger, Anthony D'Urso, and Carmen Arroyo and NYS Senators Timothy Kennedy and Jose M. Serrano who sponsored the initial bill that included the poverty rate qualification for cities.