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.
| State or Territory: | Michigan |
| Effected Jurisdiction: | Michigan |
Jurisdiction type: | State or Territory |
| Fiscal year ending In: | 2019 |
| Program name: | Brownfield Redevelopment Credit Program |
| Program purpose: | Redevelopment/revitalization |
| Statutory authority: | Public Acts 39 of 2011 Michigan Compiled Laws (MCL) Sections 125.2651 - 125.2670, 207.801 - 207.810, and 208.1437 |
| Abating jurisdiction(s): | State of Michigan |
| Applicable taxes: | Michigan Business Tax (MBT) |
| Method of abatement: | Tax Credit |
| Provisions for recapture: | For multiphase projects, if all components are not completed by ten years after the date on which the preapproval letter was issued, the qualified taxpayer shall pay to the state treasurer, as a penalty, an amount equal to the sum of all credits claimed and assigned for all components of the project. No credits based on that multiphase project shall be claimed after that date by the qualified taxpayer or any assignee. |
| Gross revenue loss: | $22,300,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $22,300,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
| Document source: | https://www.michigan.gov/budget/fiscal-pages/reports/annual-comprehensiv... |
