Michigan HB5806 amends the Michigan income tax law to allow taxpayers to claim a housing opportunity tax credit against their tax liability.

Michigan HB5806 amends the Michigan income tax law by adding a new section allowing qualified taxpayers to claim a housing opportunity tax credit against their tax liability. This credit applies to tax years beginning on and after January 1, 2027. A qualified taxpayer is defined as the owner of a qualified project awarded a housing opportunity tax credit or someone with an interest in such a project. The credit amount is determined by the allocation statement issued by the Michigan State Housing Development Authority.

Michigan HB5806 amends the Michigan income tax law to allow taxpayers to claim a housing opportunity tax credit against their tax liability.

Michigan HB5806 amends the Michigan income tax law by adding a new section allowing qualified taxpayers to claim a housing opportunity tax credit against their tax liability. This credit applies to tax years beginning on and after January 1, 2027. A qualified taxpayer is defined as the owner of a qualified project awarded a housing opportunity tax credit or someone with an interest in such a project. The credit amount is determined by the allocation statement issued by the Michigan State Housing Development Authority.