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.
State:
Michigan
Reporting Jurisdiction:
Michigan
Jurisdiction type
:
State
:
Fiscal year ending In:
2020
Program name:
Farmland Preservation Credit - Corporate and Non-Corporate Program
Program purpose:
Conservation of farmland, forest, or open space
:
Statutory authority:
Public Act 39 of 2011; Michigan Compiled Laws (MCL) Section 324.36109
:
Abating jurisdiction(s):
State of Michigan
:
Applicable taxes:
Individual Income Tax; Michigan Business Tax
Method of abatement:
Tax credit
:
Provisions for recapture:
If a parcel is released from the program, the land owner is required to repay the tax credits taken during the last seven years under the agreement, plus six percent simple interest.
:
Gross revenue loss:
$44,400,000
:
Reimbursement / offset:
$0
:
Net revenue loss:
$44,400,000
:
Type of loss:
Active
:
Additional notes on dislosure:
(none)
