Preservation Action, Legislative Update
Volume 17, Number 1, January 4, 2014 →
Congress Returns, Continue to Advocate for HPF Funding
The second session of the 113th Congress reconvenes. The Senate on January 6th and the House of Representatives on January 7th. The top issue on the legislative agenda for both houses of Congress is the January 15th deadline for the FY 2014 budget.
Preservation Action must continue to urge Congress to support adequate funding for the Historic Preservation Fund. Write appropriators and tell your member of Congress to support the Senate numbers for the Historic Preservation Fund and grants that support historic preservation.
IRS issues Safe Harbor procedure for Historic Tax Credit Partnerships
Published and taking affect on December 30, 2013, the IRS published it’s comment on the Federal Historic Tax Credit, most likely, in response to the 2012 ruling of the Historic Boardwalk Hall case; the Revenue Procedure 2014-12 is an offering of safe harbor for various partnership and investment structures that are often created to utilize the tax credit.
Key provision include defining an investor’s economic risk, and maintaining that partnerships cannot dissolve until five years after the project while now allowing partners to swap their percent of interest in the partnership prior to that. Also, an investor must offer a minimum 20% investment before the project is completed, in the past tax credit have been granted prior to financial risk by the investor.
The tone from the national preservation community is that this guidance was much-needed. We will continue to monitor the use of these new provisions and welcome stories from your companies about implementation.
FCC Seeks Comment on Wireless Infrastructure Placement on Historic Buildings
The Federal Communications Commission (FCC) seeks comment on review procedures of the installation of DAS (distributed antenna systems) and small cell wireless infrastructure related to NEPA, Section 106 and review coordination that might be needed with ACHP, NCSHPO and tribal organizations. Options for treatment may exclude such installations from review or may modify the review process. The FCC is soliciting comments on this issues by February 3, 2014.
Happy New Year from Preservation Action
With the arrival of 2014, Preservation Action is now in its 40th year of grassroots advocacy. On your next visit to Washington, DC, stop by and check out our new offices at the historic Heurich House. Tell us about the federal and state issues that are important to your historic preservation work and stories about successful historic preservation projects in your area. Congress is back in session next week (US Senate January 6th and the US House of Representatives on January 7th) so join us for a Hill visit or public policy meeting or a coffee while you are in town. We look forward to seeing you all at the National Historic Preservation Advocacy Week in March.