PreservationDirectory.com
PreservationDirectory.com
 
home
preservation events & conferences
press releases & job postings
› main menu
› article guidelines
› submit an article
grants & funding sources
heritage marketing services
preservation library:
articles, regulations & policy
preservation organizations
& resources
museums & historic structures
historic real estate
preservation businesses,
products & services
historic lodging:
inns, b&b's, hotels
historic tours
preservation general resources
historic photo galleries
preservation bookstore
frequently asked questions
about us
join email list
contact us
site map


member login

Featured
Property For Sale
View more information about this historic property for sale in Raleigh, North Carolina

John B. and Nancy Strain House

Raleigh, NC
PreservationDirectory.com
30 Bromley Road
Pittsford, NY 14534
Phone: (503) 308-0500

Email Us!





ArchiveInABox

WeddingGownPreservationKit.com

Victorian Revival Vintage Lighting

Mad Dog Primer



PreservationDirectory.com

Legislation & Public Policy Issues in Preservation     


Legislation & Public Policy Issues in Preservation
Back to Press Releases Print   Submit an Article
Legislation Would Substantially Improve Michigan's Historic Tax Credit- Take Action!
Historic Preservation Blog from PreservationDirectory.com -
Contributed By: Preservation Action
Email The Author: info@preservationaction.org
Website: https://www.mhpn.org/state/

From Preservation Action:

Legislation was recently introduced in the Michigan House that would significantly improve and expand their state Historic Tax Credit. Most notably, HB 5430 would increase the current cap on the credit from $5 million annually to $100 million annually. The bill would also make other improvements to expand the effectiveness of the program, like increasing the credit from 25% to 30% for small projects, and distributing the credits based on project size.

After Michigan's Historic Tax Credit was phased out in 2011, advocates led a multi-year effort to reinstate the program. In 2020, the Michigan Legislature passed legislation again establishing a 25% historic tax credit for income producing properties and residential properties. The major drawback was that the credit was capped at $5 million annually, an amount that is woefully inadequate to keep up with demand. In 2022 commercial credits were claimed within just 5 hours of being opened.

The Michigan Historic Preservation Network is helping to lead the advocacy efforts to get this important bill across the finish line. Check out their advocacy page to read the full bill, see a fact sheet about the bill, and find out how you can take action!

Learn More: https://www.mhpn.org/state

 


Posted: April 9, 2024
Back to Press Releases Print   Submit an Article


Unless noted, the thoughts and opinions expressed in the article are solely that of the
author and not necessarily the opinion of the editors of PreservationDirectory.com.
   



PreservationDirectory.com | preservation events & conferences | press releases & job postings | organizations & resources
museums & historic structures | historic real estate | preservation businesses, products & services | historic lodging
historic tours | preservation general resources | historic photo galleries | preservation bookstore | preservation library
frequently asked questions | about us | join email list | heritage marketing services | contact us | site map

© Copyright 2024 - PreservationDirectory.com | website by Stolutions