SB0633

Michigan SB0633 eliminates the state historic preservation tax credit for individual income tax purposes.

Michigan SB0633 amends sections 266a and 676 of the Michigan Compiled Laws to eliminate the state historic preservation tax credit for individual income tax purposes. The bill removes the ability for qualified taxpayers to claim a credit against their tax liability for qualified expenditures related to the rehabilitation of historic resources. This change affects individuals and entities that previously invested in the rehabilitation of historic buildings, structures, sites, objects, features, or open spaces listed on the National Register of Historic Places or state register of historic.