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2002 SESSION
023735946WHEREAS, the Federal Historic Preservation Tax Credit Program currently provides federal income tax incentives for rehabilitation of historic income-producing properties; and
WHEREAS, legislation currently pending in the United States Congress will expand the program by providing a credit against income tax to individuals who rehabilitate historic homes or who are the first purchasers of rehabilitated historic homes for use as a principal residence; and
WHEREAS, passage of the pending legislation could have many beneficial effects in Virginia, including encouraging additional protection of historic buildings, returning underutilized buildings to local tax rolls, and providing a boost to efforts to improve older neighborhoods; now, therefore, be it
RESOLVED by the House of Delegates, the Senate concurring, That Congress be urged to expand use of federal historic preservation tax credits to qualified owner-occupied structures; and, be it
RESOLVED FURTHER, That the Clerk of the House of Delegates transmit copies of this resolution to the Speaker of the United States House of Representatives, the President of the United States Senate, and the members of the Virginia Congressional Delegation in order that they may be apprised of the sense of the Virginia General Assembly in this matter.