2008 House Bill 6496 ↩

Senate Roll Call 812: Passed

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.