Michigan SB0655 amends the Michigan Business Tax Act to reflect the elimination of the Michigan Strategic Fund.
Michigan SB0655 amends sections 107, 111, 415, 419, 435, and 460 of the Michigan Business Tax Act to reflect the elimination of the Michigan Strategic Fund. The bill includes provisions for the administration of tax credits related to the rehabilitation of historic resources, the use of tax vouchers, and the assignment of credits. It also outlines criteria for the approval of additional credits and the conditions under which credits may be revoked or added back to tax liability.
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