Main Street Revival Act
The Main Street Revival Act revitalizes small-town downtowns and commercial districts by supporting redevelopment, local entrepreneurship, and reuse of vacant properties. Through targeted tax incentives, grants, and business support, the Act helps communities restore economic activity while preserving historic character. It aims to bring life back to local Main Streets and strengthen small-town economies.
Key Provisions
Vacant Property Rehabilitation Tax Credit: Offers tax credits to property owners or lessees who renovate vacant commercial properties in designated small-town business districts.
Main Street Microenterprise Grant Program: Provides small grants to local entrepreneurs launching or expanding businesses in rural or small-town downtown areas.
Historic Storefront Preservation Incentive: Supports the preservation and modernization of historic commercial buildings through state grants and technical assistance.
Business Incubator and Pop-Up Support Fund: Funds temporary retail activations, shared commercial space, and business coaching for early-stage ventures.
Local Planning and Zoning Modernization Assistance: Offers technical assistance and matching grants for local governments to update codes that support mixed-use redevelopment and small business growth.
Model Language
Section 1. Short Title. This Act shall be known and may be cited as the “Main Street Revival Act.”
Section 2. Purpose. The purpose of this Act is to support the economic revitalization of small-town business districts through property rehabilitation, entrepreneurship support, and local planning modernization.
Section 3. Definitions.
(a) “Eligible area” means a commercial corridor or downtown district in a municipality with a population under 25,000.
(b) “Eligible property” means a vacant or underutilized commercial structure located within an eligible area.
(c) “Department” means the relevant state agency designated to administer community and economic development programs.
Section 4. Vacant Property Rehabilitation Tax Credit.
(a) An income tax credit of up to 25% of eligible rehabilitation costs shall be available to individuals or businesses that: (1) Renovate an eligible property for commercial use; and (2) Maintain occupancy for at least 3 consecutive years.
(b) The maximum credit per project shall not exceed $100,000.
(c) The credit shall be claimed over five years and is transferable.
Section 5. Main Street Microenterprise Grant Program.
(a) The Department shall administer a competitive grant program to support new or expanding businesses in eligible areas.
(b) Grants shall range from $5,000 to $25,000 and may be used for leasehold improvements, equipment, signage, or startup inventory.
(c) Applicants must demonstrate a business plan and local match.
Section 6. Historic Storefront Preservation Incentive.
(a) The Department shall offer preservation grants and technical assistance for eligible properties over 50 years old.
(b) Grants may be used for facade improvements, structural stabilization, and ADA compliance upgrades.
(c) Priority shall be given to projects contributing to local heritage tourism or cultural revitalization.
Section 7. Business Incubator and Pop-Up Support Fund.
(a) The Department shall fund: (1) Shared retail spaces or maker hubs; (2) Pop-up shops or kiosks in vacant storefronts; (3) Technical assistance and mentorship programs.
(b) Eligible applicants include nonprofits, chambers of commerce, and municipal development agencies.
Section 8. Local Planning and Zoning Modernization Assistance.
(a) The Department shall provide matching grants and planning support to municipalities to update zoning and land use regulations.
(b) Eligible activities include: (1) Creating mixed-use overlays; (2) Reducing parking minimums; (3) Streamlining permitting for adaptive reuse.
Section 9. Severability. If any provision of this Act is held invalid, the remainder shall continue in effect.
Section 10. Effective Date. This Act shall take effect on January 1 of the year following its enactment.