APAC IMPACT: AIA New Jersey Announces the Passage of the Historic Property Reinvestment Act

August 18, 2021

APAC IMPACT: AIA New Jersey Announces the Passage of the Historic Property Reinvestment Act

AIA New Jersey, together with Preservation New Jersey, The National Trust for Historic Preservation and the development community, has been at the forefront of advocating for a historic tax credit in New Jersey for over a decade. Our organization has testified to support legislation at the State House, and are proud to stand with partners like Preservation New Jersey and the many individuals and organizations who recognized the need for financial tools to support the rehabilitation of New Jersey’s historic resources.

AIA New Jersey is thrilled with the passage of the Historic Property Reinvestment Act this past January.  AIA NJ has been invited to part of the team that will help craft the rules and regulations for the new legislation.  NJEDA is currently accepting informal comments on the legislation via a page on the NJEDA website and there will be a more formal opportunity during a public comment period later this year. We encourage all members concerned with preservation in New Jersey to provide feedback both through this portal and in the forthcoming formal comment period.

AIA New Jersey is delighted that New Jersey is now one of 39 states in the nation offering a state historic tax credit program and we know that this program will have a positive impact on preservation and on the state’s economy. We also recognize that there is more work to be done to make it an even more useful tool in the future and AIA New Jersey will stay engaged in this process.

Reported by Michael J. Hanrahan, AIA 

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