[CPEO-BIF] Michigan to expand tax credits

[Lenny Siegel <lennysiegel@gmail.com>]

Michigan brownfield tax credit change should spur investment

Candace Beeke
Ann Arbor Business Review (MI)
April 10, 2008

Pending changes to Michigan's brownfield tax credits should spur 
investment by returning more money to developers' pockets, experts say.

House Bill 5511, which increases Michigan Business Tax brownfield 
credits along with other changes, passed "virtually unanimously" in the 
House and Senate at the end of March, said John Byl, chair of Warner, 
Norcross & Judd's environmental practice group, which helped draft the 
legislation. The governor was expected to sign the amendment.

"I think we'll see a lot of projects move forward" now, Byl said.

The legislation permanently increases brownfield tax credits from 10 
percent to 12.5 percent and, in some cases, even more. These tax credits 
apply to construction-related expenses performed on an eligible 
brownfield, by the Brownfield Act's standards - a definition that was 
expanded in December.

...

For the entire article, see
http://blog.mlive.com/ann_arbor_business_review/2008/04/brownfield_tax_credit_change_s.html

-- 


Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
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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