[Congressional Record (Bound Edition), Volume 158 (2012), Part 6]
[House]
[Pages 8434-8435]
[From the U.S. Government Publishing Office, www.gpo.gov]




            MODERNIZING THE HISTORIC PRESERVATION TAX CREDIT

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
Oregon (Mr. Blumenauer) for 5 minutes.
  Mr. BLUMENAUER. Mr. Speaker, sometimes simple concepts are the most 
powerful.
  Since the beginning of my career, I have seen the power of historic 
preservation as a key component to a liveable community that is rich 
and varied, not just merely the historic character, but the mixed uses, 
architectural diversity, human scale and function, economic 
development, jobs, and the creation of value.
  Today, the National Trust for Historic Preservation will be 
announcing with their president, Stephanie Meeks, some of the most 
endangered places that we might lose, serving as a call to action. Our 
heritage matters.
  That's why for over 35 years Federal Tax Code has granted special 
recognition to help with the cost of rehabilitating historic 
properties, and for good reason. Over 37,000 historic properties have 
been rehabilitated, have leveraged $90 billion in investment, and 
created 2 million jobs.
  Historic preservation is good for the soul. People love the 
enhancement of historic properties, neighborhoods, and districts. It 
directly links people to who they are, helping us understand

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and appreciate our roots. It is very important that most people also 
appreciate historic preservation. That's why it serves as a magnet for 
tourists and other investors so that surrounding properties and 
neighborhoods can be strengthened.
  It also strengthens the economy. The investment and its ripple 
effects create more tax revenue and avoid the cost of rundown property 
and blight. As a local official, for years I learned firsthand that it 
is hard and expensive to deal with deterioration of the building stock 
in the neighborhoods in which they are located.
  Historic preservation is the best option for the environment. 
Recycling a building usually has more net environmental benefit than a 
LEED-certified new building.

                              {time}  1010

  Historic preservation strengthens the community. A varied streetscape 
with a mix of uses makes that community safer and more resilient the 
same way that a forest that is composed of a variety of different tree 
species is more resistant to fire and disease than a monoculture of a 
single species. Historic preservation avoids that monoculture of the 
built environment that is numbing to the soul and depressing to the 
economy, which is subject to decline in the future as the entire area 
ages and deteriorates at the same time. We're watching this phenomenon 
on display in communities across the country as first- and second-tier 
suburbs deteriorate.
  As I mentioned at the beginning, Historic Tax assistance has been in 
the Tax Code since 1976. That's why it's important with all the 
justifiable pressure and concern to reform and simplify the Tax Code 
that we must retain tools for historic preservation. Indeed, I think 
it's time to modernize the historic property tax credit to reflect the 
many changes since 1976. Some of the most profound adjustments were 
made during the administration of Ronald Reagan, but it's been over 25 
years since the provisions were addressed comprehensively.
  We need to recognize the difficulty with the current investment 
climate that makes it more difficult for people to take advantage of 
the tax credit as well as opportunities going forward to maximize the 
capacity for this important program. That's why I have introduced, with 
my Republican partner, Congressman Aaron Schock, H.R. 2479. It would 
provide more benefit to smaller-scale, Main Street rehabilitation. 
There will be a 10 percent bonus for significantly enhancing energy 
conservation and special incentives that can be used in tandem with the 
33 historic tax credit programs in individual States across America.
  It's hard to think of a better value for strategic investment in 
communities that provide a sense of place in history with the creation 
of jobs and wealth. A modernized historic preservation tax credit will 
be a key ingredient for years to come--a building block for a livable 
community where families are safe, healthy, and economically secure. I 
urge my colleagues to join me in supporting this important 
modernization of the historic preservation tax credit.

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