Establishes a housing opportunity tax credit program in Michigan.

The bill amends Michigan's housing development authority to establish and administer a housing opportunity tax credit program. The authority can allocate up to 50% of the credits to any qualified project, with at least 25% going to new construction and preservation projects, and at least 30% to projects in rural areas. The authority must set aside at least 45% of the credits for qualified projects if enough applications are received. The credits are awarded on a first-come, first-served basis, and the authority can establish an evaluation methodology if applications exceed available credits.

Establishes a housing opportunity tax credit program in Michigan.

The bill amends Michigan's housing development authority to establish and administer a housing opportunity tax credit program. The authority can allocate up to 50% of the credits to any qualified project, with at least 25% going to new construction and preservation projects, and at least 30% to projects in rural areas. The authority must set aside at least 45% of the credits for qualified projects if enough applications are received. The credits are awarded on a first-come, first-served basis, and the authority can establish an evaluation methodology if applications exceed available credits.