To expand the expenses that may be included in calculating a Michigan Business Tax credit (which can equal up to 25 percent of the cost to rehabilitate a "historic" building or other property); and also expand the ability of credit recipients to assign or transfer these tax breaks to another taxpayer. The bill removes a provision that reduces the state credit by the amount of a federal rehab credit, and makes tax credits of up to $250,000 "refundable," meaning that if the credit exceeds the amount of tax owed the state will send the taxpayer a check for the difference. See also Senate Bill 973.   Official Text and Analysis.

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

With the recommendation that the amendment be adopted and that the bill then pass.

To tie-bar the bill to Senate Bill 973, meaning this bill cannot become law unless that one does also. SB 973 is the Senate version of the same proposal; often single bills are split into two to make the legislation "bicameral" or "bi-partisan," and to let more than one legislator take whatever "credit" is due from the public or interested parties.