Michigan HB4504 modifies the state historic preservation tax credit program.

Michigan HB4504 amends the state historic preservation tax credit program by modifying the credit amount for historic resources sold or disposed of within five years of rehabilitation completion. It specifies that a percentage of the credit must be added back to the tax liability of the original claimant. The bill also details the process for applying for and receiving a tax credit, including the submission of a rehabilitation plan and application to the state historic preservation office.

Michigan HB4504 modifies the state historic preservation tax credit program.

Michigan HB4504 amends the state historic preservation tax credit program by modifying the credit amount for historic resources sold or disposed of within five years of rehabilitation completion. It specifies that a percentage of the credit must be added back to the tax liability of the original claimant. The bill also details the process for applying for and receiving a tax credit, including the submission of a rehabilitation plan and application to the state historic preservation office.