Since its inception as part of the Tax Reform Act of 1976, the federal historic tax credit (HTC) has aided with nearly $100 billion in rehabilitation investment. This law provided a 25 percent federal income tax credit on monies used in the rehabilitation of commercial, agricultural, industrial or rental buildings that are certified historic structures. At the 10-year mark, the Tax Reform Act of 1986 instituted a two-tier program that included a 10 percent tax credit for non-historic buildings placed in service before 1936. That act also reduced the historic tax credit from 25 to 20 percent and made other changes that made the credit more challenging to use. Nonetheless, in its 36-year history, the HTC has been enormously successful in stimulating the adaptive reuse of historic buildings throughout the country.