The Kansas Legislature’s move to cap tax credits for historic building redevelopment at $3.75 million for 2010 and 2011 will roll the program back to 2004 levels, according to figures released this morning by Kansas Secretary of Revenue Joan Wagnon.
Here’s a breakdown of filers and credits allowed:
2007: 120 filers, $5.99 million allowed
2006: 102 filers, $4.03 million allowed
2005: 138 filers, $6.1 million allowed
2004: 128 filers, $3.44 million allowed
2003: 87 filers, $2.48 million allowed
2002: 36 filers, $943,852 allowed.
2001 figures are confidential, Wagnon’s office said, because there were fewer than five filers.
The cap imposed by the Kansas Legislature this year is the first one in the program’s history, as we’ve reported before. There was no limit on credit awards in any of the above years.
2 Comments
In a time when we need to do everything we can to stimulate construction and the development of closed or under performing historic buildings it seems to be backward thinking to cap a program that has seen such a huge return on investment. Those returns are to all levels of government, city county state and federal.
Why are 2001 records an exception to KORA? Would it reveal a privacy interest of the less than five businesses?