Connecticut House Bill HB05361

Connecticut 2011 Regular Session

• Introduced: 1/19/11
• Refer: 1/19/11

Caption

An Act Extending Connecticut Historic Building Tax Credits To Include Mixed Use Development Of Former Municipal And Federal Buildings.

Impact

The bill seeks to amend existing general statutes to broaden the applicability of tax credits, which could significantly impact urban and rural development across Connecticut. By incentivizing the renovation and adaptive reuse of historically significant properties, the bill not only aims to preserve the cultural heritage of Connecticut but also hopes to stimulate economic activity through the revitalization of these public spaces, potentially attracting new businesses and residents.

Summary

House Bill 05361 proposes to extend Connecticut's historic building tax credits to encompass mixed-use developments involving former municipal and federal buildings. This initiative aims to leverage tax incentives to preserve and repurpose historically significant structures, such as town halls, post offices, and schools, thereby encouraging their ongoing use and maintenance in a way that benefits the community.

Contention

While the bill has merit in terms of historic preservation, discussions may arise regarding the allocation of tax resources and whether such incentives detract from funding for other public needs. There may be concerns raised by various stakeholders, such as local governments or preservationists, about the criteria for determining which buildings qualify for these credits and how mixed-use developments might alter neighborhood dynamics. Balancing preservation with modern development needs will likely be a point of contention during legislative deliberations.