The Council's report has been prepared after careful study of the interaction between Federal tax law and historic preservation. It contains the conclusions the Council has reached on the current state of that interaction and its recommendations for legislative changes to further the national historic preservation policy. (p. 7)

CONTENTS
Introduction.
Scope and methodology.
The impact of current Federal tax law on historic preservation.
Current federal tax provisions directly affecting historic preservation.
Credit for rehabilitation expenditures.
Demolition disincentives.
Donation of preservation easements.
General tax provisions affecting historic preservation.
Estate and gift taxes.
Conclusions and recommendations:
     Investment tax credits for rehabilitation of certified historic structures.
     The demolition disincentive.
     Donation of preservation easements.
     Estate and gift taxes.
     Need for further study.

The Council's report has been prepared after careful study of the interaction between Federal tax law and historic preservation. It contains the conclusions the Council has reached on the current state of that interaction and its recommendations for legislative changes to further the national historic preservation policy. (p. 7)