HB 4112
Economic development: Michigan economic growth authority; definition of new construction under the Michigan economic growth authority act; modify. Amends sec. 3 of 1995 PA 24 (MCL 207.803). TIE BAR WITH: HB 4111'25
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- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies the Michigan Economic Growth Authority Act to clarify the definition of ‘new construction’ for the purposes of tax credits. Specifically, it defines ‘new construction’ as property not previously existing and not replacement construction, encompassing additions to equipment and furnishings. The bill also updates definitions related to ‘qualified high-technology business,’ ‘tourism attraction facility,’ and ‘multimodal commerce’ to provide greater clarity for businesses seeking these incentives.
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