Art Bonus: 20 million euros for restoration of public cultural heritage

A new protocol signed by the Italian National Association of Municipalities (ANCI), the Istituto per il Credito Sportivo (ICS), and ALES Arte Lavoro e Servizi S.p.A. makes 20 million euros available to municipalities for the restoration and maintenance of public cultural assets. Municipalities that have received donations through the Art Bonus tax incentive scheme can apply for subsidized loans covering at least 51% of project costs (reduced to 30% for municipalities in Basilicata, Calabria, Campania, Puglia, Sardinia, and Sicily). Each municipality can obtain up to 6 million euros. The Art Bonus, introduced in 2014, offers a 65% tax credit for donations to public cultural heritage and live entertainment. To date, 1,884 entities and over 15,500 patrons have participated, funding 3,800 interventions totaling 464 million euros. The protocol aims to simplify procedures and boost cultural heritage preservation, especially during the pandemic.