Gov. Gretchen Whitmer (D) of Michigan signed legislation extending the state’s Historic Tax Credit (HTC) through 2030.
S.B. 54 allows a qualified taxpayer with a certificate of completed rehabilitation issued after December 31, 2020 and before January 1, 2031, to credit against the income tax or Corporate Income Tax (CIT) 25 percent of the qualified expenditures that met eligibility criteria for the historic rehabilitation credit under the Internal Revenue Code for the rehabilitation of a historic resource, according to a summary of the bill.
