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Old 03-12-2015, 10:53 AM
 
6,479 posts, read 7,173,371 times
Reputation: 1970

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This will be good not only for Savannah, but all of Georgia....
Quote:
Under the bill, which the House passed 147-22 Wednesday night, the maximum tax credit developers could receive for restoring historic buildings would jump from $300,000 per project to $5 million.
The legislation is being pushed by Savannah native Richard Kessler, a one-time CEO of Atlanta-based Days Inns, who plans to convert a century-old former Georgia Power Co. plant at the western end of Savannah's River Street to a six-story 170-room hotel.
Georgia House expands tax credit for historic renovations - Atlanta Business Chronicle
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Old 03-16-2015, 10:44 AM
 
Location: Savannah
2,099 posts, read 2,278,932 times
Reputation: 1336
agreed. too bad it didn't pass
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Old 03-16-2015, 11:55 AM
 
6,479 posts, read 7,173,371 times
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Savannahlife, it did pass....
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Old 03-16-2015, 03:43 PM
 
7,126 posts, read 11,712,241 times
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Quote:
Originally Posted by Airforceguy View Post
Savannahlife, it did pass....

So you're saying it passed the senate?
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Old 03-16-2015, 03:48 PM
 
6,479 posts, read 7,173,371 times
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I don't believe its been brought up in the senate yet. It passed the house last week, so I'm not sure when the senate will have a shot at it. Honestly, I don't see why the senate would have have an issue with this bill.
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Old 03-23-2015, 10:11 PM
 
6,479 posts, read 7,173,371 times
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Quote:
Questions raised Monday by the Senate Finance Committee about costs delayed a vote on legislation that would enhance tax credits for developers who renovate historic buildings.

Committee members were chiefly concerned about how much tax revenue the state would be giving up by allowing developers to sell credits they can’t use. Current law only allows the actual developer to apply the credits against income tax owed to the state.

A committee vote on House Bill 308 will be postponed a day or so until the committee can conduct a full hearing with expert witnesses and members of the public, Chairman Judson Hill said.
Ga. Senate committee concerned about cost of historic tax credits | savannahnow.com
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Old 03-24-2015, 05:37 AM
 
Location: Savannah
2,099 posts, read 2,278,932 times
Reputation: 1336
can they do anything right. it's like scraping the bottom of the barrel of society to find politicians. they should be our best, but they are the opposite. And really, conservatives worried tax cuts will cost us too much? I wish Kessler the best on this one. He needs to send some lobbyists up to the big city.
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Old 03-24-2015, 06:06 AM
 
4,120 posts, read 6,613,521 times
Reputation: 2290
SavannahLife,

Here is what happened, somebody forget the brown bags with the $$$'s in them for this bill.
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Old 03-24-2015, 07:26 AM
 
Location: Savannah GA
13,709 posts, read 21,942,117 times
Reputation: 10227
A $5 million tax credit for that River Street project?! I don't like it ....
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Old 03-31-2015, 05:38 PM
 
6,479 posts, read 7,173,371 times
Reputation: 1970
The senate has approved....
Quote:
A proposal to expand a state tax credit used to help restore historic buildings in Georgia could be headed to a legislative conference committee.
The state Senate approved a bill 36-10 Tuesday with substantial differences from the version of the measure the Georgia House of Representatives passed earlier this month.
Lawmakers created the tax credit a few years ago but limited it to small-scale restorations involving historic homes or small “Main Street” businesses in historic districts.
Georgia Senate expands historic renovations tax credit - Atlanta Business Chronicle
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