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2008 House Bill 6496: Expand eligibility and transferability of historic preservation tax credits

Public Act 447 of 2008

Introduced by Rep. Steve Tobocman (D) on September 24, 2008
To expand the expenses that may be included in calculating a Michigan Business Tax credit (which can equal up to 25 percent of the cost to rehabilitate a "historic" building or other property); and also expand the ability of credit recipients to assign or transfer these tax breaks to another taxpayer. The bill removes a provision that reduces the state credit by the amount of a federal rehab credit, and makes tax credits of up to $250,000 "refundable," meaning that if the credit exceeds the amount of tax owed the state will send the taxpayer a check for the difference. See also Senate Bill 973.   Official Text and Analysis.
Referred to the House New Economy And Quality Of Life Committee on September 24, 2008
Reported in the House on November 12, 2008
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered in the House on November 13, 2008
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute failed by voice vote in the House on November 13, 2008
Substitute offered by Rep. Steve Tobocman (D) on November 13, 2008
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote in the House on November 13, 2008
Received in the Senate on December 2, 2008
Referred to the Senate Commerce & Tourism Committee on December 2, 2008
Reported in the Senate on December 10, 2008
With the recommendation that the amendment be adopted and that the bill then pass.
Amendment offered in the Senate on December 11, 2008
To tie-bar the bill to Senate Bill 973, meaning this bill cannot become law unless that one does also. SB 973 is the Senate version of the same proposal; often single bills are split into two to make the legislation "bicameral" or "bi-partisan," and to let more than one legislator take whatever "credit" is due from the public or interested parties.
The amendment passed by voice vote in the Senate on December 11, 2008
Received in the House on December 11, 2008
Signed by Gov. Jennifer Granholm on January 9, 2009

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