2008 Senate Bill 1625

Establish state tax break for federal “new markets tax credits”

Introduced in the Senate

Nov. 12, 2008

Introduced by Sen. Randy Richardville (R-17)

To authorize a Michigan Business Tax credit based on a firm’s use of a federal “new markets tax credit,” which is a program that subsidizes capital investments or loans to certain business entities or individuals in low-income communities.

Referred to the Committee on Finance