The last state surrounding New Jersey to do so is now poised to adopt a state historic preservation incentive program, leaving the Garden State still more isolated from millions of dollars in potential investment, community revitalization and jobs creation.  The Pennsylvania House of Representatives, by a vote of 193 – 2, has passed HB42, the Historic Preservation Incentive Act.   The legislation will provide direct grants of up to $15,000 for rehabilitation of historic residential buildings, state tax credits of up to $500,000 for rehabilitation of historic commercial properties and priority funding to properties located in “Main Street” and “Elm Street” areas, enterprise zones and historic districts.  The bill now awaits Senate action, with strong indications that Gov. Ed Rendell will sign it into law.

Pennsylvania already sees scores of millions of dollars in historic rehabilitation and reinvestment, as measured by use of the federal historic rehab tax credit.  Now, with a companion state credit for commercial revitalization, still more investment is likely to flow into the Keystone State.  And owners of historic single family residences will be offered grants to reimburse for the costs of renovation and rehabilitation.   No such assistance for homeowners is available in New Jersey.


The Historic Property Revitalization Act, to make New Jersey the 31st state to offer a powerful historic rehabilitation tax credit to spur job creation and desperately needed economic growth, has been re-introduced in the 2010 New Jersey Legislature.

Lead sponsors Sen. Barbara Buono (Middlesex) and Asym. Reed Gusciora (Mercer), long champions of the Historic Property Revitalization Act (HPRA), are heading efforts to get the legislation enacted, after several years of opposition from former NJ Governors.  Now, with the need for private investment, skilled jobs and community revitalization greater than ever, and a new Governor who supported HPRA during the fall election campaign, the historic tax credit legislation is poised for success!

To learn more and get involved, visit Preservation New Jersey’s “Take Action” webpage.  Ask NJ Assembly members and Senators to co-sponsor the bill (S659, A1851)