Our region boasts of a unique heritage and rich history that should be preserved for future generations. In many of our communities, historic homes shed light on this heritage with distinctive architecture and the stories of the families who inhabited them in years past.

For these reasons, I am pleased to be a cosponsor of the Historic Homeowners Revitalization Act, which has been introduced recently in the U.S. House of Representatives. If enacted, the legislation would encourage historic home preservation by providing a tax credit for homeowners who rehabilitate their historic homes.

Historic home preservation projects not only benefit our region’s culture but also provide new job opportunities for construction workers, architects and engineers. The Historic Homeowners Revitalization Act gives homeowners access to the same kind of tax credits currently available to commercial developers through the national Historic Rehabilitation Tax Credit Program. This existing program for commercial developers has helped preserve commercial buildings while creating an estimated 67,000 jobs.

The Historic Homeowners Revitalization Act is based on a similar homeowner tax credit program implemented in Missouri. Missouri’s program has helped revitalize communities, assisted homeowners in enhancing their homes, and has resulted in more than 40,000 jobs in the past decade.

The legislation introduced in the U.S. House of Representatives would create a 20 percent federal tax credit up to $60,000 for homeowners who rehabilitate a historic structure. To qualify, a taxpayer must make qualified rehabilitation expenditures, over a two-year period, exceeding more than $5,000 or the taxpayer’s basis in property. The historic home must be used as the primary residence. The bipartisan legislation is supported by the American Institute of Architects, Preservation Action, the National Trust for Historic Preservation, and the National Conference of State Historic Preservation Officers.

I am pleased that the Historic Homeowners Revitalization Act has been introduced, and it will receive my strong support when it is considered by the U.S. House of Representatives.

Rick Boucher is Congressman for the 9th District of Virginia, which includes the New River Valley. You can catch his Capitol Commentary regularly at newrivervoice.com.