HB 4503
Corporate income tax: credits; state historic preservation tax credit program; modify. Amends sec. 676 of 1967 PA 281 (MCL 206.676). TIE BAR WITH: HB 4504'25
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies the state’s historic preservation tax credit program by adjusting the rules for claiming and receiving credits for rehabilitating historic resources. It increases the overall credit limits available through 2025 and 2026, with higher limits in subsequent years, and establishes specific percentage rates for credit eligibility based on the size of the historic resource. The bill also includes provisions related to the application process, certificate issuance, and potential recapture of credits if the rehabilitation doesn't meet certain criteria.
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