The Historic Tax Credit (HTC) is a proven tax incentive for revitalizing historic community assets and supporting economic development and recovery.

On March 2, 2023, Senators Ben Cardin (D-MD), Bill Cassidy (R-LA), Maria Cantwell (D-WA), and Susan Collins (R-ME) introduced the Historic Tax Credit Growth and Opportunity Act (S. 639). Similar legislation was introduced in the House by Representatives Earl Blumenauer (D-OR), Brian Higgins (D-NY), Mike Kelly (R-PA), and Darin LaHood (R-IL), Terri Sewell (D-AL), and Mike Turner (R-OH). Both bills include provisions to permanently add value to HTC, improve access to the credit, and increase investment in smaller rehabilitation projects.