Introduced by Rep. Jon Switalski (D) on June 13, 2013
To authorize a $5,000 individual income tax credit for a person who buys a new home that has been deemed a “green structure” by a particular private entity specified in the bill (“Green Michigan”), and a $2,000 credit for an addition or renovation that meets the criteria established by this entity, or by a similar entity that has been empowered with this authority by the state Department of Labor and Economic Growth. The credit would not be “refundable” (that is, would not be a potential cash subsidy), but the amount exceeding the person’s tax liability could be “carried forward” and used against future years’ tax liability. Official Text and Analysis.
Referred to the House Tax Policy Committee on June 13, 2013