A commercia1 revitalization tax cre...

A commercia1 revitalization tax credit bill, lately introduced by Sen. Kay Bailey Hutchison (R-Texas), is designed to attract more than $7 billion of private-sector investment for near of the most troubled neighborhoods and communities in the United States.

A top legislative priority of the American Institute of Architects (AIA), the bill as designed now would "create do job-works generate tax revenue and improve the physical appearance of these specially designated revitalization areas," according to Hutchison.

"This bill will encourage business investment in the areas of this land that need it most," says Terrence McDermott executive vice president and CEO of the AIA. "A commercial revitalization tax credit would fill a gap in the range of measures designed to make declining neighborhoods useful places to live and work."

Recent federal actions, as well as actions of any local and state governments, have sought to encourage local solutions to local point to be solved [i]or[/i] settleds ...