| Newark, New Jersey
Tomorrow, twelve state will be voting for new governors: Deleware, Indiana, Missouri, Montana, New Hampshire, North Carolina, North Dakota, Oregon, Utah, Vermont, Washington, and West Virginia. All but four of these states - Indiana, New Hampshire, Oregon, and Washington - have state historic tax credit programs. Just as the tax reform preferences of the to-be-determined president will shape federal programs like the Historic Rehabilitation Tax Credit, these governors will be the influential in the shaping of state historic tax credits whether they are already in place or proposed. And it seems governors are not always a friend to programs that may have overwhelming bi-partisan support for reasons that range from personal to budgetary.
In the October edition of the Novogradac Journal of Tax Credits, we examined efforts for historic tax credit programs in California and New Jersey that fell short of a governor's signature after passing in other state legislative branches.
Read the article: Historic Tax Credits and the Gubernatorial Veto