80th Annual Meeting


WHEREAS, Representatives Aaron Schock (R-IL) and Earl Blumenauer (D-OR), and Senators Ben Cardin (D-MD) and Olympia Snowe (R-ME), have introduced the bipartisan Creating American Prosperity through Preservation (CAPP) Act (H.R. 2479 & S. 2074), and

WHEREAS, H.R. 2479 & S. 2074 (the CAPP Act) would increase the Federal Historic Tax Credit from 20 percent to 30 percent of qualified rehabilitation expenditures for smaller “Main Street” projects involving $5 million or less in expenditures, and

WHEREAS, the CAPP Act would increase the credit amount by 2 percent for those projects that increased the building’s energy efficiency by 30 percent, and

WHEREAS, the CAPP Act would eliminate federal taxation of State historic tax credits, further catalyzing the effect of both credits, and

WHEREAS, the CAPP Act would also restore the initial Congressional intent to make buildings that are 50 years old, rather than only those built prior to 1936, eligible for the 10 percent rehabilitation credit, and

WHEREAS, the CAPP Act would facilitate non-profit sponsorship of historic tax credit projects by limiting the definition of disqualified leases, and

WHEREAS, the Federal Historic Tax Credit is a proven job creating, community revitalizing investment in cities throughout the nation, and

WHEREAS, the Federal Historic Tax Credit is a government program that more than pays for itself, with the cumulative $19.2 billion cost of federal historic tax credits having generated $24.4 billion in federal taxes from the projects facilitated by the credits, and

WHEREAS, the Federal Historic Tax Credit has catalyzed the rehabilitation of 38,000 buildings, created 2.2 million jobs and leveraged nearly $100 billion in private investment,

NOW THEREFORE BE IT RESOLVED that the United States Conference of Mayors supports the Federal Historic Tax Credit and the general goals of H.R. 2479 & S. 2074 because of the well documented economic and job benefits to the nation’s cities, and

BE IT FURTHER RESOLVED that the United States Conference of Mayors urges Congress to enhance the Federal Historic Tax Credit as outlined in H.R. 2479 & S. 2074.


RESOLUTION ADOPTED JUNE 2012