Michigan Governor Rick Snyder recently made a proposal to replace the Michigan Business Tax with a flat rate corporate income tax, and, as part of the package, the proposal eliminates the state’s historic preservation tax credit. The Michigan Historic Preservation Network has partnered with State Historic Preservation Office to travel around the state and educate communities on the HTC programs:
- 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.
