State Senators Introduce Bill to Reinstate Michigan State HTC
Five Michigan state senators introduced legislation this week to reinstate a state historic tax credit. SB 54 would create a credit for 25 percent of qualified rehabilitation expenses. The credit would be effective Jan. 1. The nonrefundable credit could be carried forward up to 10 years. Michigan passed a state HTC in 1999, but it was zeroed out in 2011 and has not been funded since.