Preserve Arkansas worked with our partners at the Quapaw Quarter Association and the Division of Arkansas Heritage to make much-needed improvements to the State Historic Tax Credit (HTC)
during the 2021 Regular Session. The 93rd General Assembly unanimously passed HB1555 in both the House and Senate, sending it to Governor Hutchinson’s desk where it was signed on April 22 and became Act 840 of 2021
This legislation is the culmination of years of advocacy and represents the first increase in the annual State HTC cap since the program was created in 2009.
Act 840 will improve the State HTC by:
- raising the yearly tax credit limit from $4 million to $8 million
- extending the sunset from 2027 to 2037
- allowing administrators to use fees collected to support the program.
We are extremely grateful for our lead bill sponsors, Rep. Joe Jett and Sen. Jonathan Dismang, our co-sponsors and partners, and the support of our members and friends in this effort. Thank you!