From Preservation Action:
On January 29th, Sen. Jim Webb (D-VA) introduced S. 2970, the Rehabilitation of Historic Schools Act of 2010. A companion bill (H.R. 4133) was introduced in the House by Eric Cantor (R-VA) in November.
The bill would change a provision in the Federal Rehabilitation Tax Credit that currently restricts renovation of older public school buildings, limiting the ability of local governments to partner with private developers to rehabilitate schools.
"With municipalities across the country unable to fund school repairs and construction, this bill will provide needed assistance, partner local government with the private sector, create jobs, and give our children the facilities they need to learn and grow,” said Webb in his press release. "Good local schools and well-maintained public facilities are key indicators of where businesses may locate. This legislation strengthens our communities across the board."