Bill
A 7526
Bill A 7526 expands the definition of "qualified historic home," allowing more homeowners to access rehabilitation credits, boosting preservation and community revitalization.
Bill Number: A 7526
Title: Alters the definition of a qualified historic home for the purposes of the historic homeownership rehabilitation credit
Status: Referred to Ways and Means
Introduced: April 01, 2025
Classification: Bill
Bill A 7526 aims to modify the existing definition of a "qualified historic home" to enhance the eligibility criteria for the historic homeownership rehabilitation credit. This credit is designed to incentivize homeowners to rehabilitate and preserve historic properties, thereby promoting cultural heritage and community revitalization.
Revised Definition: The bill proposes a new definition of what constitutes a "qualified historic home." While the specific changes to the definition are not detailed in the provided information, the intent is to broaden or clarify the criteria under which homes can qualify for the rehabilitation credit.
Historic Homeownership Rehabilitation Credit: The bill seeks to ensure that more homeowners can access financial incentives for rehabilitating historic properties, potentially increasing participation in the program.
Homeowners: Individuals who own historic homes may benefit from the expanded definition, allowing them to qualify for the rehabilitation credit.
Local Communities: By encouraging the rehabilitation of historic homes, the bill could lead to increased property values, enhanced community aesthetics, and preservation of local history.
Historic Preservation Organizations: These groups may see increased engagement and support as more homeowners take advantage of the credit to restore historic properties.
Current Status: As of April 01, 2025, the bill has been referred to the Ways and Means Committee for further consideration. This committee will review the bill's financial implications and overall impact before it can proceed to a vote.
Related Legislation: The bill is part of a broader legislative context, with several related bills from prior sessions (A 3194, A 3993, A 2678, A 4364, A 4117, A 3908, A 6097, A 5600, A 4396) that may address similar issues or provide additional context for the historic homeownership rehabilitation credit.
Bill A 7526 represents an effort to enhance the preservation of historic homes by revising the criteria for the historic homeownership rehabilitation credit. If passed, it could lead to increased participation in the program, benefiting homeowners and communities alike. The bill is currently under review by the Ways and Means Committee, and its progress will be closely monitored by stakeholders in the historic preservation community.
Compiled from official sources — confirm details with the bill’s official record.
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