[CPEO-BIF] Michigan changes Brownfields incentives

[Lenny Siegel <lsiegel@cpeo.org>]

Michigan continues to improve brownfield tax credit program

Gordon Goldie and Jim Manning
Michigan Business Review
December 7, 2006

Michigan's brownfield tax credit program is already one of the most 
effective brownfield incentive programs in the country. Since its 
inception, it has helped spur redevelopment of hundreds of brownfield 
properties across the state.

The program promotes the redevelopment of brownfield properties by 
providing businesses and real estate developers with a tax credit 
against the Single Business Tax equal to 10 percent of eligible 
investment in qualified property. To qualify, property must be 
contaminated, blighted or functionally obsolete, and the taxpayer must 
receive approval from the Michigan Economic Growth Authority before 
undertaking the project.

To improve the brownfield tax credit program, Gov. Granholm recently 
signed several amendments to it -- Public Acts 111, 112 and 113 of 2006.

...

For the entire article, see
http://www.mlive.com/mbusinessreview/west/index.ssf?/base/test/1165496505312970.xml&coll=12

--


Lenny Siegel
Director, Center for Public Environmental Oversight
c/o PSC, 278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org


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