RESTORE THE MICHIGAN HISTORIC TAX CREDITS

CALL TO ACTION – HB 5718 in House Tax Policty Committee May 16, 2018!  Click here for more information. 

Join and get involved with the MI Impact Coalition, as we work to bring back Michigan’s State Rehab Tax Credit.  Senate Bill 469 (S1) passed the Senate on December 13, 2017. House Bill 5178 (HB 5178) has also been introduced to reinstate the Michigan Historic Preservation Tax Credit. These bills would reinstate the popular program that offers a credit of up to 25 percent of rehabilitation expenses against state income tax.

Save the HTC


Save the Historic Preservation Tax Credit

The Michigan Historic Tax Credits (HTC) were voted out by the state legislature in May 2011. Because the credits are part of existing legislation, and the new legislation will not take effect until January 2011, the Michigan State Historic Preservation Office has developed a new protocol for handling the state HTC for 2011. To learn more about this program, please follow this link. Meanwhile, MHPN is working with the state legislature to develop a new program that will assist historic property owners in their rehabilitation efforts. Stayed tuned for more information!

MICHIGAN’S HISTORIC PRESERVATION TAX CREDITS ARE IN JEOPARDY!

Michigan’s Governor Rick Snyder has proposed to eliminate the Michigan Historic Preservation Tax Credit (HTC), a successful and essential incentive program that contributes to economic revitalization in Michigan. Gov. Snyder confirmed yesterday his proposal to replace the Michigan Business Tax with a flat rate corporate income tax and eliminate all tax credits. In revamping Michigan’s tax system we ask that the Governor and Legislature, however, safeguard what has a proven record of success:

  • The Michigan HTC has leveraged $1.46 billion in direct rehabilitation activity and created 36,000 jobs since its enactment in 1999.
  • Each $1.0 of credit issued leverages $10.56 in direct economic impact.
  • The HTC has leveraged $251 million in Federal historic tax credits. This is federal dollars coming back into Michigan’s economy!

Michigan HTC makes projects feasible when others have given up. It puts underutilized and core urban real estate back on local and state tax rolls. The HTC fills a gap not addressed by any other type of rehabilitation financing.

The materials on this page provides the information you need to reach out to your State Representative or State Senator, offers you background on projects that are in your area, and showcases some of the press written on the topic from around the state.

Everyone who believes in protecting historic buildings needs to step up and help to protect them, the jobs created from their restoration, and the money that flows into the community as the result of both the restoration project and the revitalized building.

Call to Action – Save the Historic Preservation Tax Credit

Tax Credit Case Studies

Michigan Development Credits

Find Your Michigan State Representative

Find Your Michigan State Senator

Historic Preservation Tax Incentives Program

Positive Impact Report

 

News and Email Blasts:

02.24.2011 – Tax credits help rebuild Detroit

02.27.2011 – MHPN supports retention of Historic Tax Credit

02.27.2011 – Tax credit backers gird for battle

03.05.2011 – Gov. Rick Snyder’s budget plan puts Detroit development deals in danger

03.07.2011 – Developer says plans for Jackson’s Hayes Hotel ‘totally unfeasible’ if state axes tax credit for historic preservation

03.08.2011 – Real estate star rising: Austin Black of City Living Detroit

03.13.2011 – The slashing of state tax credits is part of Governor Snyder’s budget proposal

03.14.2011 – Gov. Rick Snyder’s proposal to cut historic tax credits and incentives could significantly slow Ypsilanti’s redevelopment, officials say

03.18.2011 – East Campus redevelopment draws five proposals – but Western Michigan University keeps them secret

03.18.2011 – Governor’s tax credit plan could put damper on Flint developments

03.23.2011 – Michigan Now – Storm Over Tax Credits

03.28.2011 – Retain the Historic Rehabilitation Tax Credit

04.01.2011 – Save the MI Homeowners HTC

04.14.2011 – Now, Raise Your Voice with Others

05.04.2011 – HTC in Senate’s Hands

05.12.2011 – HTC Voted Out