The Senate Committee on Economic Development considered a bill Wednesday that would help provide more funding to rehabilitation projects for certified historic structures throughout the state.
The bill, SB 238, would raise the tax credit allowed for these projects from 10 percent to 25 percent.
After hearing from several different supporters of the bill, including representatives from the West Virginia State Preservation Office and the City of Fairmont, the committee voted to postpone their decision on the bill until the next meeting.
Mike Gioulis of Revitalize West Virginia Downtowns said every county except for Clay has a historic district that could benefit from the tax credit increase.
Gioulis said the increase would also attract more projects to the state, that would in turn create more jobs and raise property values for historic cities.
Currently, West Virginia has the lowest tax credit of all surrounding states.
