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S 3140

Establishes a historic wood window rehabilitation and energy retrofit tax credit

2025 Regular Session Introduced by Jeremy Cooney

Bill S 3140 offers tax credits to property owners for rehabilitating historic wood windows, promoting preservation and energy efficiency in historic buildings.

REFERRED TO BUDGET AND REVENUE
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Bill Summary · S 3140

Summary of Bill S 3140

Bill Overview

  • Bill Number: S 3140
  • Title: Establishes a historic wood window rehabilitation and energy retrofit tax credit
  • Status: Referred to Budget and Revenue Committee
  • Introduced On: January 23, 2025
  • Classification: Legislative Bill

Purpose and Intent

The primary purpose of Bill S 3140 is to promote the preservation and rehabilitation of historic wood windows in residential and commercial buildings. By providing a tax credit for energy retrofitting these windows, the bill aims to encourage property owners to maintain the historical integrity of their buildings while also improving energy efficiency.

Key Provisions

  • Tax Credit Establishment: The bill proposes a tax credit for property owners who rehabilitate historic wood windows. This credit is intended to offset costs associated with the restoration and energy retrofitting of these windows.
  • Eligibility Criteria:
    • The windows must be part of a building designated as historic or located within a historic district.
    • The rehabilitation work must meet specific standards to ensure the preservation of the windows' historical character.
  • Credit Amount: While the exact dollar amount of the tax credit is not specified in the provided information, it is expected to cover a percentage of the costs incurred during the rehabilitation and energy retrofit process.

Impact

  • Beneficiaries:
    • Homeowners and property owners of historic buildings will directly benefit from the tax credit, making it more financially feasible to undertake necessary renovations.
    • Local economies may see a boost as more property owners invest in rehabilitation projects, potentially leading to job creation in the construction and restoration industries.
  • Environmental Benefits: By encouraging energy retrofits, the bill aims to reduce energy consumption and improve the overall energy efficiency of older buildings, contributing to sustainability efforts.

Procedural Aspects

  • Current Status: As of January 23, 2025, the bill has been referred to the Budget and Revenue Committee for further consideration.
  • Related Legislation:
    • S 8205: A prior-session bill that may have similar objectives or provisions.
    • A 286: A companion bill that may be introduced in the House, potentially mirroring the provisions of S 3140.

Conclusion

Bill S 3140 represents a significant step towards preserving historic architecture while promoting energy efficiency. By providing financial incentives for the rehabilitation of wood windows, the legislation seeks to balance the needs of historical preservation with modern energy standards. As the bill progresses through the legislative process, its provisions and potential impacts will be closely monitored by stakeholders in the preservation and construction communities.

Compiled from official sources — confirm details with the bill’s official record.

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