State Senator Pushes for Historical Tax Credit

By: Associated Press
By: Associated Press

A Nebraska state lawmaker has proposed legislation that he says would help revitalize small-town main streets.

Sen. Jeremy Nordquist of Omaha proposed a state tax credit on Monday to encourage preservation and restoration of historic buildings in Nebraska.

The Nebraska Job Creation and Mainstreet Revitalization Act would offer a tax credit for restoring, rehabilitating or preserving historically significant and income-producing properties.

The legislation would create a 20 percent tax credit for up to $10 million spent on historic preservation, and a 10 percent credit for projects costing more. To qualify for the tax credit, projects must cost at least $25,000.

Nordquist says the bill would spur private investments in revitalizing main streets, create jobs and preserve Nebraska history.

KOLN-TV Call: (402) 467-4321 Toll-free: 1-800-475-1011 840 North 40th Lincoln, NE 68503 Email: KGIN-TV Call: (308) 382-6100 123 N Locust Street Grand Island, NE 68802 Email: KSNB-TV Toll free 888-475-1011 123 N. Locust St. Grand Island, NE 68802 Email :
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 186877172 -
Gray Television, Inc.