|OLG and DCRT
2014-15 through 2018-19
The Atchafalaya Heritage Area has been designated by Congress as a National Heritage Area.
Historic buildings are tangible links to the past. They give communities a sense of stability, individuality, and orientation. Our government encourages the preservation of historic buildings through various means, including the Federal 20% Historic Rehabilitation Tax Credit Program.
The historic tax credit program is one of the nation's most successful and cost-effective community revitalization programs. It fosters private sector rehabilitation of historic buildings and promotes investment in local economies. It also provides a strong alternative to government ownership and management of historic properties. It generates jobs, both during the construction phase and in the spin-off effects of increased earning and consumption.
Rehabilitation of historic buildings attracts new private investment to the historic cores of cities and towns and is crucial to the long-term economic health of many communities. Enhanced property values generated by the program result in higher revenues for local and state government through increased property, business, and income taxes.
The Federal 20% Historic Rehabilitation Tax Credit Program is jointly administered by the National Park Service and the Internal Revenue Service. The Louisiana Division of Historic Preservation acts as an applicant's first point of contact when pursuing historic tax credits. The credit is available for those income-producing buildings that are individually listed in the National Register of Historic Places or are contributing elements to National Register Historic Districts. Rehabilitation projects must be substantial; that is, the qualified rehabilitation expenses must exceed the value of the historic building. All projects must be completed according to the Secretary of the Interior's Standards for Rehabilitation, and buildings must be retained for five years to receive the full value of the credit.
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The Secretary of the Interior's Standards for Rehabilitation provides a list of ten guidelines that must be met when rehabilitating a historic property for its new, modern use. These Standards must be considered when planning a project that may be eligible for historic rehabilitation tax credits.
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The IRS has provided information for use by applicants for the Historic Preservation Tax Incentives. Its purpose is to present an overview of the issues set forth, and it should not be relied upon as definitive tax advice. Applicants are strongly encouraged to consult their tax adviser or the Internal Revenue Service about the tax implications of the Historic Preservation Tax Incentives.
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For a building to be eligible for the Federal 20% Historic Rehabilitation Program, it must be either individually listed in the National Register of Historic Places or a contributing element to a National Register Historic District. To determine if your building is in the National Register, use the National Register Database.
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Stacking the Federal and State Commercial Tax Credit Programs
Some projects may be eligible for both the Federal and State Commercial Rehabilitation Tax Credit Programs. The most stringent program requirements must be met to qualify for both tax credits.
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Phone (225) 342-8160
Fax (225) 219-9772
Mailing Address: Tax Incentives Staff, Division of Historic Preservation, P.O. Box 44247, Baton Rouge, LA 70804
Overnight Mail: Tax Incentives Staff, Division of Historic Preservation, 4th Floor, 1051 N. Third Street, Baton Rouge, LA 70802