Individual income tax: credit; housing opportunity tax credits; create. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding secs. 279, 679 & 821. TIE BAR WITH: HB 5805'26, HB 5807'26

Summary

The bill adds a new credit to Michigan's individual income tax that lets owners of approved housing projects reduce their tax bill. The credit equals the smaller of the amount listed in the project's eligibility statement or the taxpayer's allocated share. It is meant to encourage development of affordable housing while tying any federal credit recapture to the state credit.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share