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S 4019

Exempts improvement to historic property from taxation if certified and agreed by appropriate agency

2025 Regular Session Introduced by Kevin Parker

Bill S 4019 offers tax exemptions for certified improvements to historic properties, encouraging preservation while impacting local government revenues.

REFERRED TO LOCAL GOVERNMENT
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WeVote Research Nonpartisan
Bill Summary · S 4019

Summary of Bill S 4019

Bill Overview

  • Bill Number: S 4019
  • Title: Exempts improvement to historic property from taxation if certified and agreed by appropriate agency
  • Status: Referred to Local Government
  • Introduced On: January 31, 2025
  • Classification: Bill

Purpose and Intent

The primary purpose of Bill S 4019 is to provide a tax exemption for improvements made to historic properties. This legislation aims to encourage the preservation and enhancement of historic sites by reducing the financial burden associated with property taxes on renovations and restorations that are certified by the appropriate agency.

Key Provisions

  • Tax Exemption: The bill proposes that any improvements made to properties designated as historic will be exempt from taxation, provided these improvements are certified and agreed upon by the relevant governmental agency.
  • Certification Requirement: To qualify for the tax exemption, property owners must obtain certification from an appropriate agency, which will likely include local or state historic preservation offices.
  • Scope of Improvements: While the bill does not specify the types of improvements covered, it generally implies renovations, restorations, and enhancements that contribute to the preservation of the historic character of the property.

Affected Parties

  • Property Owners: Owners of historic properties will benefit directly from the tax exemption, potentially leading to increased investment in property improvements.
  • Local Governments: Municipalities may experience a shift in tax revenue as a result of the exemptions, which could impact local budgets and funding for public services.
  • Historic Preservation Agencies: These agencies will play a crucial role in certifying improvements, thus influencing the implementation of the bill.

Procedural Aspects

  • Legislative Action: As of January 31, 2025, the bill has been referred to the Local Government committee for further consideration. This step is essential for the bill to advance through the legislative process.
  • Related Legislation: Bill S 4019 is part of a broader context of prior-session bills (S 1511, S 3085, S 3432, S 4621, S 3397, S 3625, S 4605, S 5017, S 5218) that may address similar issues regarding historic properties and taxation.

Conclusion

Bill S 4019 seeks to incentivize the preservation of historic properties by offering tax relief for certified improvements. By reducing financial barriers, the bill aims to promote the maintenance and enhancement of cultural heritage sites, benefiting property owners and potentially impacting local government revenues. The next steps will involve discussions and evaluations by the Local Government committee.

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

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