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Legislation watch
2017 Senate Bill 469: Give some developers tax breaks for rehabbing “historic” structures
Introduced by Sen. Wayne Schmidt R-Traverse City on June 21, 2017
To grant certain developers approved by state or local officials credits against the business income tax that are worth up to 25 percent of the amount spent to restore a structure that meets various criteria for being “historic.” Up to 90 percent of credits valued up to $250,000 would be "refundable," making them virtual cash subsidies. Official Text and Analysis.
Referred to the Senate Finance Committee on June 21, 2017
Reported in the Senate on November 30, 2017
With the recommendation that the bill pass.
Received in the House on December 13, 2017
Referred to the House Tax Policy Committee on December 13, 2017
Reported in the House on June 6, 2018
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.