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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionMichigan
Jurisdiction type: State
Fiscal year ending In2021
Program nameRenaissance Zone Credit - Development Program
Program purpose: Business attraction/retention/expansion
Statutory authority: Public Act 39 of 2011; Michigan Compiled Laws (MCL) Sections 125.2681 - 125.2696 and 208.1433
Abating jurisdiction(s): State of Michigan
Applicable taxesMichigan Business tax
Method of abatement: Tax Credit
Provisions for recapture: Recapture conditions vary and only occur when expressly provided in the agreement signed by the taxpayer and MSF board.
Gross revenue loss: $3,500,000
Reimbursement / offset: $0
Net revenue loss: $3,500,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.michigan.gov/budget/fiscal-pages/reports/annual-comprehensiv...