To authorize a $5,000 individual income tax credit for a person who buys a new home that has been deemed a “green structure” by a particular private entity specified in the bill (“Green Built Michigan”), and a $2,000 credit for an addition or renovation that meets the criteria established by this entity, or by a similar entity that has been empowered with this authority by the state Department of Labor and Economic Growth. The credit would not be “refundable” (that is, would not be a potential cash subsidy), but the amount exceeding the person’s tax liability could be “carried forward” and used against future years’ tax liability.   Official Text and Analysis.