SB 0647
Economic development: other; income tax act of 1967; amend to reflect elimination of the Michigan strategic fund. Amends secs. 51f, 266a, 270, 278, 676, 680, 696, 701, 711, 713 & 718 of 1967 PA 281 (MCL 206.51f et seq.). TIE BAR WITH: SB 0631'25
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill eliminates the Michigan Strategic Fund and modifies several sections of the 1967 Income Tax Act to reflect this change. Specifically, it adjusts provisions related to distributing funds from the withholding tax capture revenues and credits for historic rehabilitation projects. The bill also establishes a good jobs for Michigan fund to receive those revenues and sets limits on the amount of tax credits available for historic preservation projects. It includes provisions for prioritizing applications and managing the allocation of funds to ensure equitable distribution and prevent excessive claims.
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Primary sponsor
Thomas A. Albert
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