2009 Senate Bill 542

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

Introduced in the Senate

May 7, 2009

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