Introduced
by
To direct the department in charge of delivering selective state subsidies to certain corporations and developers (called the “Michigan Strategic Fund”) to create and operate a "community investment pilot program" to "promote community participation and collaborations among nonprofit organizations, businesses, and individual residents while producing outcomes which assist a distressed area or the low-income population in a neighborhood, community, or commercial corridor.” House Bill 5821 would authorize giving $25 million worth of individual and business tax credits equal to 50 percent of the amount a taxpayer contributes to this program, which could be used against future year tax liabilities if the amount exceeds a person’s tax bill for the current year.
Referred to the Committee on Commerce and Tourism
